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Article: Prices for new homes in city soar
- Article from:
- Winnipeg Free Press
- Article date:
- October 12, 2007
- Author:
CopyrightCopyright F.P. Canadian Newspapers Limited Partnership Oct 12, 2007. Provided by ProQuest LLC. (Hide copyright information)
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face=+Bold; Rising cost of land blamed for 16 per cent increaseface=-Bold;
By Murray McNeill
THE soaring cost of land is pushing up new-home prices in Winnipeg at a rate not seen since the 1990s, according to new Statistics Canada figures.
The federal agency said Thursday the cost of a new home jumped 16 per cent between August of last year and August of this year -- the latest month for which StatsCan figures are available.
In dollar terms, that means a new home that cost $300,000 in August 2006 would have cost $348,000 in August of this year.
An analyst with the agency's prices division said the 16 per cent gain was the biggest year-over-year increase in new-home prices in at least seven ...