Reuters – Canadian new home prices rose in September, lifted by gains in Vancouver, Statistics Canada data showed on Thursday.
However, prices in Toronto were unchanged for the fourth month in a row following provincial government measures to rein in the market.
Nationally, prices increased 0.2% from the previous month, matching economists’ forecasts, and were up 3.8% on the year. The new housing price index excludes apartments and condominiums.
The monthly gain was driven by a 0.7% increase in Vancouver, the country’s most expensive housing market. While the British Columbia government implemented a tax on foreign buyers in the city over a year ago, housing activity has picked back up in recent months.