SmartHomeOwners

OTTAWA: The New Housing Price Index fell 0.1 per cent in July following a 0.1 per cent increase in June, the first decrease in 13 months.

Statistics Canada reports the top contributors to the decrease were Vancouver, London and Greater Sudbury and Thunder Bay, Ont.

Prices fell the most in Greater Sudbury and Thunder Bay (down 1.9 per cent), London (1.8) and Windsor, Ont. (1.5).

StatsCan blamed the declines partly on the introduction of the Harmonized Sales Tax, which is not included in the index's calculations.

Prices increased in three of the 21 cities surveyed, with the largest hike coming in Kitchener_Cambridge_Waterloo, Ont., where they rose 0.6 per cent as builders increased their prices.

Year over year, the index was up 2.9 per cent in July following a 3.3 per cent increase in June.