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A "For Sale" sign is posted outside of a Toronto townhome. (Tim Fraser For The Globe and Mail)
A "For Sale" sign is posted outside of a Toronto townhome. (Tim Fraser For The Globe and Mail)

Toronto, Edmonton help drive new house prices higher in October Add to ...

The new housing price index rose 0.2 per cent in October after a similar increase in September.



Statistics Canada reports the metropolitan regions of Toronto and Oshawa, and Edmonton were the top contributors to the increase.



The agency says their positive impact was offset in part by decreases in Vancouver and Victoria.

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Between September and October, Edmonton (up 0.6 per cent) posted the largest monthly price advance, followed by Toronto and Oshawa (0.4).



In Edmonton, price increases were primarily the result of higher material and labour costs as well as higher land values, while in Toronto and Oshawa, some builders cited good market conditions.



The agency says prices were unchanged in nine of the 21 metropolitan regions surveyed.



The most significant monthly price declines were recorded in Victoria (down 0.6 per cent) and Saskatoon (down 0.3).



Year over year, the index was up 2.5 per cent in October.



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