New figures from StatsCan show that Calgary is new home prices in Calgary are growing by the biggest amounts in Canada.

The New Homes Index showed a monthly rise of 0.5 per cent and an annual rate of 6.8 per cent. This is compared to a monthly 0.3 per cent and 1.5 annual rate across the nation.

The second highest annual growth rate was 3 per cent in Hamilton; less than half that of Calgary. Builders say land development costs and favourable economic conditions are fuelling the market.

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