Vancouver has the largest year-over-year new housing price increase in Canada, according to Statistics Canada.
The national statistical agency released its new housing price index for the month of April this morning, which showed a 0.3% average increase across Canada and was identical to March’s increase.
The index evaluates changes in the sale prices of new homes agreed upon between the contractor and buyer, and the prices collected from builders don’t include value added taxes such as the GST or HST.
Vancouver’s year-over-year price increase was 6%.
That increase matches April’s 21% jump in B.C. residential home sales when compared with the same month in 2009, according to the British Columbia Real Estate Association (BCREA).
Although residential sales volumes leapt 73% in the first four months of 2010 compared with the some period in 2009, the BCREA said the market has begun to show signs of levelling off.