Canada’s new housing price index rises sequentially in September

Canada’s new housing price index rises sequentially in September. Higher new home prices in British Columbia mainly drove the national gain in September, while the results in the remainder of Canada were mixed, noted Statistics Canada.

New house prices in the nation rose 0.2 percent sequentially in September, as compared with the earlier rise of 0.1 percent in August. The September’s rise greatly reflects increases in the census metropolitan areas of Vancouver and Kelowa. Prices for new homes in most Southern Ontario CMAs remained unchanged in September. Meanwhile, in Saskatchewan and Alberta, new house prices dropped in all four surveyed CMAs with Regina witnessing the biggest drop of 0.3 percent.

On a year-on-year basis, new house prices rose 3.8 percent for the third straight month. Vancouver saw a year-on-year rise of 8.3 percent, while London recorded an 8.1 percent rise and Toronto seeing a gain of 6.4 percent.

At 19:00 GMT the FxWirePro's Hourly Strength Index of Canadian Dollar was bullish at 93.4304, while the FxWirePro's Hourly Strength Index of US Dollar was highly bearish at -134.344. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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