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Economic Calendar Terms

New Housing Price Index

Statistics Canada
National Contact Centre
Client Services Division
Lobby, R.H. Coats Building, West
120 Parkdale Avenue
Ottawa, Ontario,
K1A 0T6

The index measures changes of contractor's selling prices of new residential houses. House price index is a statistic designed to reflect the average change of house prices across the country or a certain area. It ensures that the relative importance of different property types in different regions remains fixed throughout the life of the index. Different adjustment must be used as no two houses are identical. Therefore characteristics such as physical attributes of a house or its location should be included in the calculation if the index.