The Toronto skyline in Canada

Canada Housing July 2019

Canada: House prices tick up in July, although momentum in the market is soft

House prices increased 0.7% on a monthly basis in July, according to the Teranet-National Bank Composite House Price Index, down slightly from June’s 0.8% gain. In July, prices in 10 of the 11 markets surveyed rose over the month prior. However, when adjusting for seasonal factors house prices actually fell in July, as was also the case in May and June. Year-on-year, house prices were up 0.4%, marginally lower than June’s 0.5% uptick.

In month-on-month non-seasonally-adjusted terms, prices in Winnipeg, Ottawa and Montreal registered the fastest increases in July, while prices in Toronto—which accounts for over one-third of the 11-city composite index—also edged higher. In contrast, prices in Vancouver continued to fall.

Commenting on the state of the housing market in July, James Marple, an economist at TD, noted:

“While affordability will remain a constraint in major high-priced markets, prices appear more likely to increase than decrease over the next year.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest