Canada: House price growth accelerates in January
According to the Teranet-National Bank Composite House Price Index, house prices increased 1.3% month-on-month on a non-seasonally-adjusted basis in January, which was stronger than December’s 0.8% increase. In annual terms, house prices were up 16.6% in January, picking up from the previous month’s 15.5% rise.
In January, prices in 9 of the 11 markets surveyed increased over the month prior. Prices in Hamilton, Vancouver and Victoria robustly, while prices in Toronto—which accounts for over one-third of the 11-city composite index—grew 1.9% month-on-month.