New house prices rise 0.3% in May

OTTAWA — The Canadian Press

A home for sale in Toronto. (Fred Lum/Fred Lum/The Globe and Mail)

Statistics Canada says its new housing price index rose 0.3 per cent in May, following a 0.2-per-cent increase in April.

Toronto, Oshawa and Calgary were the top contributors to the May increase, while prices slipped in Victoria and Charlottetown.

The largest April-to-May increases came in the Ontario cities of Sudbury and Thunder Bay, where they rose 1.6 per cent.

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On a year-over-year basis, the index was up 2.4 per cent in May, after a 2.5 per cent increase in April.

Toronto and Oshawa again were the driving forces behind this increase, rising 5.5 per cent.

Of the 21 metropolitan regions surveyed, three posted 12-month price declines in May, with Victoria recording the largest decrease at 3.2 per cent..