According to Statistics Canada, the New Housing Price Index (NHPI) rose 0.4 percent in February compared with the previous month. Ontario accounted for the majority of the gain, as new house prices increased in all 10 of its surveyed metropolitan areas.
New house prices were up in 16 of the 27 metropolitan areas surveyed, with the largest increases observed in Guelph (+1.4 percent) and Oshawa (+1.2 percent). Housing prices for eight metropolitan areas were unchanged.
On the strength of price increases for new houses in Toronto, the NHPI rose 3.3 percent over the 12-month period ending in February. This was the largest annual growth at the national level since June 2010. Six metropolitan areas recorded year-over-year price declines in February.