According to Statistics Canada, the New Housing Price Index (NHPI) rose 0.4 percent in July compared with the previous month, driven mainly by new housing prices in the combined region of Toronto and Oshawa. Prices have increased at the national level for 16 consecutive months.
In a year-on-year comparison, the NHPI rose 2.8 percent over the 12-month period ending in July, the largest increase at the national level since August 2010. The combined metropolitan region of Toronto and Oshawa posted the highest year-over-year price increase.