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Canada's monthly new house prices rose 0.1% in January, and the main contributors were again the combined Toronto and Oshawa region as well as Calgary, Statistics Canada said Thursday.
The pace slowed from 0.2% in December and matched the consensus call in a report from Royal Bank of Canada. Year-on-year prices slowed to 2.2% from 2.3%.
The statistical agency said builders cited market conditions as the primary reason for higher prices in the Toronto and Oshawa region, and increased material and labor costs in Calgary.
Prices in Winnipeg were up 0.9%, the largest monthly gain since September 2011 due to higher costs for developed land. Meanwhile, prices shrank 0.2% in the Ottawa-Gatineau region-- the first decline since May 2011-- as builders offered larger bonus packages to generate interest and boost sales.
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