Canada: Housing prices growth decelerates again in August
September 14, 2015
The Teranet-National Bank National Composite House Price index rose 1.0% in August over the previous month. The reading was just below July’s 1.2% increase, and marked the smallest increase in 3 months. The countrywide index continued to break records as it climbed to 176.1 points in August from July’s 174.3 points.
Regarding regional developments, Toronto and Vancouver, which together account for 54.0% of the index, recorded increases of 1.6% and 0.6%, respectively, while Hamilton saw the highest monthly increase of 2.4%. Six of the 11 cities that comprise the index saw monthly price decreases, the most significant being Calgary, which fell 3.9%. On an annual basis, house prices rose 5.4% in August (July: +5.1% year-on-year).
Author: Robert Hill, Economist