Statistics Canada released its new housing price index on Thursday. New housing price index in Canada rose 0.2% in November, in line with expectations, after a 0.3% rise in October.

The increase was mainly driven by a gain in Toronto and Vancouver region. New home prices in Toronto and Oshawa region rose 0.2% in November, while prices in Vancouver climbed 0.5%.

On a yearly basis, new housing price index in Canada climbed 1.6% in November, after a 1.5% gain in October.