Source: The Canadian Press

The New Housing Price Index rose 0.1% in February following a 0.4% increase in January.

Statistics Canada reports prices rose in 14 of 21 metropolitan areas between January and February.

Prices increased the most in Regina (up 2%), followed by Winnipeg and London (both up 1.9).

Toronto and Oshawa (down 0.7%) as well as Charlottetown (down 0.5) were the only metropolitan areas to register monthly decreases in February.

Year over year, the index was up 0.9% in February following a 0.1% increase in January.

The largest year-over-year increase was recorded in St. John’s, N.L. (up 5.5%), followed by Winnipeg (4.1) and Quebec City (3.5).

Higher residential land values were the primary reason for the increases in all three metropolitan areas.