"Thursday was the Statistics Canada New Housing Price Index, which averages the prices of new homes across the country. It rose 0.4 per cent in May over April, buoyed by the country's highest monthly increase in Regina, at 1.7 per cent. This was followed by 1 per cent in Kitchener-Cambridge-Waterloo, Ont., and 0.9 per cent in Toronto and Oshawa, Ont. The notable increase in Regina comes as the cost of land, building materials and labour continues to rise in that city. Meanwhile, developers in the Ontario cities that saw prices rise cited market competition as the driving factor."
"When comparing last May to the same month in 2010, Windsor and Victoria led the cities where prices dropped, with new homes costing an average of 4.4 per cent and 1.7 per cent less than a year ago, respectively. On a year-to-year basis, the national index rose 1.9 per cent, with the largest gains in St. John's (4.7 per cent), Toronto and Oshawa (4.3 per cent each)."
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