Nova Scotia Leads Canada in New Home Price Growth – March 2025
While many Canadian cities are seeing their housing markets cool, Halifax is breaking the trend—leading the nation in new home price growth. According to the latest New Housing Price Index (NHPI) released by Statistics Canada, newly built homes in Nova Scotia are leading the nation year-over-year as of March 2025.
This isn’t just noise—it’s a signal that Nova Scotia continues to attract demand and outperform national averages, especially in the face of tighter conditions elsewhere.
🧱 What Does the NHPI Measure?
The NHPI tracks the price movement of newly constructed homes, including single-family, semi-detached, and row houses sold by builders. It reflects changes in base pricing for new builds excluding upgrades, renovations, or resale homes.
That means this data is a strong indicator of what’s happening in the new construction segment—and right now, Halifax is at the top of the list.
📊 Key Stats – March 2025 NHPI
Halifax New Home Price Growth (YoY): +5.2%
National Average (YoY): +0.1%
Provinces Seeing Declines: PEI (-2.1%), Ontario (-0.5%)
Cities with Largest Drops: London, ON (-3.6%), Sherbrooke, QC (-3.1%)
🔎 Why Nova Scotia and Halifax?
Halifax’s strength in the new home market is driven by a few key trends:
In-migration from other provinces continues to fuel demand, especially for suburban new builds.
Limited shovel-ready land is keeping new supply tight, pushing prices higher.
Builder costs remain elevated, with rising material and labour prices baked into new home pricing.
Buyers are increasingly opting for turnkey homes with warranties and energy-efficient features.
👀 What This Means for Buyers
New construction may not come with the bidding wars seen in the resale market, but demand is still outpacing supply. If you're buying new, expect fewer incentives than previous years and less room for negotiation—especially in communities like West Bedford, Beaver Bank, and Hammonds Plains.
Thinking of building custom? Lock in your land and builder soon—costs aren’t likely to come down anytime soon.
💬 The Chisholm Group Perspective
This 5.2% increase in Halifax’s new home prices isn’t just a stat—it reflects strong fundamentals and long-term confidence in our market. While resale inventory remains tight and competitive, the new build sector is quietly gaining ground and driving pricing higher.
If you're considering a new home purchase in 2025, let’s talk. Our team works closely with Marchand Homes and can help you navigate everything from lot selection to key handover.
📍 Ready to explore your options?
📞 Reach out or visit chisholmgroup.ca to start your search.
Smart. Local. Real estate that works for you.
— Chisholm Group
