The Toronto skyline in Canada

Canada Housing January 2021

Canada: Housing prices growth loses further steam in January

According to the Teranet-National Bank Composite House Price Index, house price growth decelerated to 0.3% on a month-on-month non-seasonally-adjusted basis in January, from December’s 0.6%. In annual terms, house prices were up 9.6% in January, accelerating from the previous month’s 9.4% rise.

In December, prices in 7 of the 11 markets surveyed increased over the month prior. Prices in Hamilton, Montreal and Victoria increased robustly, while prices in Toronto—which accounts for over one-third of the 11-city composite index—dipped 0.1% month-on-month.

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