House prices in Alberta keep surging
Last Updated: Wednesday, October 11, 2006 | 11:06 AM ET
CBC News
Rising costs for construction materials, labour and land in Alberta helped push prices for new houses in Edmonton and Calgary higher in August.
Statistics Canada said prices in Edmonton posted the largest monthly increase of the 21 major urban centres surveyed, with a gain of 6.8 per cent, followed by Calgary with an increase of 3.5 per cent.
The Alberta housing market, which has been buoyed by the influx of investment into the province's oil, oilsands and gas sector, has been leading the country in price increases.
Statistics Canada said its national New Housing Price Index rose 1.5 per cent in August, topping the 1.1 per cent increase in July.
Compared to one year ago, contractors' selling prices increased 12.1 per cent.
Aside from Alberta, the biggest increases in new home prices in August were registered in Vancouver, where prices were up 2.5 per cent from July, and in London, Ont., where prices were up 1.7 per cent.
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