Canada: Growth in housing prices picks up in April
May 12, 2016
The Teranet-National Bank National Composite House Price index grew 1.2% in April over the previous month, following the 0.8% increase observed in March. The rise was the highest in 10 months.
Regarding regional developments, Toronto and Vancouver, which together account for 54.0% of the index, recorded increases of 1.4% and 2.2%, respectively. Vancouver and Toronto also recorded the strongest growth of the 11 cities that comprise the index. Edmonton was the only city with a decrease. On an annual basis, house prices rose 8.1% in April, which was up from the 7.0% increase recorded in March.
Author: Robert Hill, Economist