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Housing price index inches up in April

Statistics Canada says its new housing price index rose 0.1% in April, following no change in March.

The move higher was driven in large part by gains in Toronto, Oshawa, Ont., and Vancouver.

The combined region of Toronto and Oshawa was up 0.2% due to higher material and labour costs as well as market conditions.
Vancouver posted its largest gain since March 2010, climbing 0.6%.

Charlottetown reported the largest increase at 1%, due to market conditions and higher land development costs.

On a year-over-year basis, the new housing price index was up 1.1% in April, the smallest annual increase since February 2010.