Canada New House Prices Climb 0.1% in August

By Paul Vieira Features Dow Jones Newswires

Canadian new house prices edged upward in August, as activity in the country's two hottest markets--the Toronto area and Vancouver--was unchanged from the previous month.

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Canada's new housing price index rose 0.1% in August on a month-over-month basis, Statistics Canada said Thursday. That was short of market expectations for a 0.2% gain, according to economists at Royal Bank of Canada.

On a 12-month basis, Canadian new house prices increased 3.8% in July.

The data covers prices for newly built single-detached and semidetached residences and row houses. It doesn't incorporate prices for new condominiums.

Meanwhile, in other real-estate news, the Teranet-National Bank composite house price index, a gauge of 11 major Canadian cities, dropped 0.8% in September, the largest monthly decline in seven years. The retreat was mostly due to a 2.7% fall in the Toronto market.

Write to Paul Vieira at paul.vieira@wsj.com

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(END) Dow Jones Newswires

October 12, 2017 09:09 ET (13:09 GMT)