Canada: House price growth eases in February
According to the Teranet-National Bank Composite House Price Index, house prices increased 0.3% month-on-month on a non-seasonally-adjusted basis in February, which was softer than January’s 1.3% increase. In annual terms, house prices were up 16.4% in February, slowing from the previous month’s 16.6% rise.
In February, 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.