Canada: Housing prices growth accelerates in August
According to the Teranet-National Bank Composite House Price Index, house price growth increased to 0.6% on a month-on-month non-seasonally-adjusted basis in August, from July’s 0.3%. In annual terms, house prices were up 5.7% in August, which was up from the previous month’s 5.5% rise.
In August, prices in 10 of the 11 markets surveyed increased over the month prior. Prices in Victoria, Montreal and Ottawa increased robustly, while prices in Toronto—which accounts for over one-third of the 11-city composite index—grew a modest 0.1% month-on-month.