According to Statistics Canada, the New Housing Price Index (NHPI) rose 0.3 percent in April, following a 0.2 percent increase in March. This was the largest monthly advance since October and was mainly driven by new housing prices in Ontario.
Of the metropolitan areas covered by the index, the top contributor to the national increase in April was the combined region of Toronto and Oshawa (+0.7 percent). Builders cited market conditions as the main reason for the advance.
The largest monthly price gains in April were observed in Kitchener–Cambridge–Waterloo and Victoria (both +0.8 percent). Builders in both metropolitan areas reported market conditions as the primary reason for the increases. This was the largest monthly price advance in Victoria since May 2007, and the largest in Kitchener–Cambridge–Waterloo since June 2012.