Blog by Mark Longpre

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Metro Vancouver home prices up

VANCOUVER — Metro Vancouver new-home prices edged up again in September compared with August, Statistics Canada reported Thursday, as buyers continue to jump into the market and builders launched more new products.

Average contract prices in the region gained 1.4 per cent compared with August, Statistics Canada said, although average prices are still 6.4 per cent below prices in the same month a year ago.

"In Vancouver, prices continued to increase as some builders moved to new phases of development," the agency's housing-price-index report said.

"Others raised their list prices as consumer interest increased and market conditions continued to improve."

Across the country, new-home prices rose 0.5 per cent in September from August, following a 0.1-per-cent increase in August from July.

While most markets in the Statistics Canada survey saw prices rise, a few saw prices fade in September from August, including Victoria, where prices were down 0.2 per cent.

Windsor saw a 0.7-per-cent decline in September from August, the steepest drop, Sudbury and Thunder Bay experienced 0.5-per-cent declines and in Edmonton, September's prices were down 0.1 per cent from August.