Canada: Housing prices growth hits the highest level since September 2017 in March
According to the Teranet-National Bank Composite House Price Index, house price growth accelerated to 1.5% on a month-on-month non-seasonally-adjusted basis in March, from February’s 0.5%. In annual terms, house prices were up 10.8% in March—the fasted pace in three-and-a-half years—and accelerating from the previous month’s 9.8% rise.
In March, prices in all 11 markets surveyed increased over the month prior. Prices in Halifax, Hamilton and Vancouver increased robustly, while prices in Toronto—which accounts for over one-third of the 11-city composite index—surged 1.9% month-on-month.