Canada: Housing prices lose momentum in April
May 13, 2015
The Teranet-National Bank National Composite House Price index rose 0.2% in April over the previous month, marking the fourth consecutive monthly increase. The reading showed a slight decrease over March’s 0.3% print. The countrywide index inched up to an all-time high of 168.4 points in April from March’s 168.0 points.
Regarding regional developments, Vancouver and Toronto, which together account for 54.0% of the index, recorded flat readings compared to the month before, while Winnipeg and Quebec City registered the highest price increases. On an annual basis, house prices rose 4.4% in April, which was lower than March’s 4.7% increase. April’s print marked the lowest annual increase since December 2013.
Author: Robert Hill, Economist