New home costs accelerate in Canada

OTTAWA, Feb. 11 (UPI) -- The growth rate for prices of new houses expanded in Canada in December, especially in the western provinces, the Canadian government reported Monday.

Selling prices for new housing rose 6.2 percent between December 2006 and December 2007, the government said, a quicker pace than the year-to-year acceleration running from November 2006 to November 2007, when the growth rate stood at 6.1 percent.

Saskatoon led all provinces with a 45.1 percent annual jump in new housing prices, the report said.

Prices are rising in the western provinces due to increased prices in concrete and drywall, "as well as higher land development costs reported by some builders," the report said.