New house prices on the rise

Statistics Canada says its price index for new homes rose 0.2 per cent in June, following a 0.3 per cent increase in May.

The largest May-to-June increases came in the southern Ontario region of Kitchener, Cambridge, Waterloo, where prices rose 1.7 per cent, followed by Winnipeg at 0.7 per cent and Victoria at 0.6 per cent.

On a year-over-year basis, the index was up 2.3 per cent in June, after a 2.4 per cent increase in May.

Toronto and Oshawa again were the driving forces behind this increase, rising 5.0 per cent.

Of the 21 metropolitan regions surveyed, three posted 12-month price declines in June, with Victoria recording the largest decrease at 2.6 per cent.