New Housing Price Index (NHPI) – this economic indicator enables tracing change in prices for building new houses in Canada.
NHPI reflects fluctuation dynamic of prices of transactions between contractor and purchaser in the moment of buying of a new house. The index helps to trace changes in price for similar houses. Prices submitted by vendors (or building companies) serve for measurement of this figure. Those market price do not account for taxes or prices for supplementary goods and services.
Index publication has a limited impact on the market. Its growth is favorable for consolidation of national currency.