Canada: Housing prices growth accelerates in September
October 16, 2020
According to the Teranet-National Bank Composite House Price Index, house price growth increased to 1.1% on a month-on-month non-seasonally-adjusted basis in September, from August’s 0.6%. In annual terms, house prices were up 6.7% in September, which was up from the previous month’s 5.7% rise.
In September, prices in all 11 markets surveyed increased over the month prior. Prices in Hamilton, Montreal and Quebec City increased robustly, while prices in Toronto—which accounts for over one-third of the 11-city composite index—grew 1.0% month-on-month.
Author: Steven Burke, Economist