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UPDATE 1-Canada new housing prices steady in November
January 9, 2014 / 1:36 PM / 4 years ago

UPDATE 1-Canada new housing prices steady in November

* Index unchanged in November, +0.1 pct in October

* Analysts expected +0.1 pct for November

* Index excludes condos, which have been hot

* Toronto area +0.1 pct, Vancouver -0.2 pct, Calgary +0.4 pct

OTTAWA, Jan 9 (Reuters) - Canada’s new housing price index did not change in November, after a 0.1 percent rise in October, with prices rising in eight metropolitan areas, unchanged in eight and declining in five, Statistics Canada reported on Thursday.

The median forecast in a Reuters survey of analysts was for a 0.1 percent rise in November from October. Year on year, prices were up 1.4 percent, the slowest since a 0.9 percent rise in February 2010.

The Canadian government, which intervened in the mortgage market several times since 2008 to cool the sector, had long expressed concerns the housing market might overheat, but it has lately said a soft landing was more likely.

The new housing price index excludes condominiums, which the authorities have said were a particular cause for concern.

The closely watched Toronto-Oshawa region was up 0.1 percent on the month and a tame 1.4 percent on the year. Vancouver, to which authorities also pay attention, was down 0.2 percent on the month and 1.3 percent on the year. The oil town of Calgary was up 0.4 percent since October.

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