The New Housing Price Index (NHPI) rose 0.2% in September compared with the previous month. Prices rose in 11 census metropolitan areas (CMAs), with the indexes from the combined region of Toronto and Oshawa and from Vancouver contributing the most to the monthly increase.
Windsor and the combined region of Saint John, Fredericton and Moncton, which both rose 1.2% in September, posted the largest monthly price advances among the CMAs covered by the survey. Builders in Windsor reported market conditions and higher land costs as reasons for the increase. This was the largest monthly price gain in Windsor since November 2011.
In the combined region of Saint John, Fredericton and Moncton, higher construction costs were the primary reason for the advance. This was the second consecutive price increase in the region this year, and the largest since June 2010.
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