Canada property price

PUBLISHED : Wednesday, 19 July, 1995, 12:00am
UPDATED : Wednesday, 19 July, 1995, 12:00am

NEW housing prices across Canada continued to slide in May, Statistics Canada reports.

The federal agency's new housing price index, which measures fluctuations in the prices of new single-family dwellings, dropped 0.8 per cent in May from the same month last year, the 11th consecutive year-on-year decline in the index.

Across Canada, the Canadian Mortgage and Housing Corp found that housing starts covered by the index for the January to May period of this year plunged 32 per cent over the same five months in 1994. StatsCan said the short-term outlook for housing construction remained weak.