Canada: Housing prices increase at slightly slower rate in July
August 12, 2015
The Teranet-National Bank National Composite House Price index rose 1.2% in July over the previous month. The reading was just below May’s four-year-high 1.4% increase. The countrywide index continued to break records as it climbed to 174.3 points in July from June’s 172.3 points.
Regarding regional developments, Vancouver and Toronto, which together account for 54.0% of the index, recorded increases of 1.6% and 2.4%, respectively, while Hamilton saw the highest monthly increase of 2.7%. Calgary, Halifax, and Edmonton all decreased over the previous month. On an annual basis, house prices rose 5.1% in July, which matched June’s increase.
Author: Robert Hill, Economist