Canada: Housing prices pick up in March
April 14, 2015
The Teranet-National Bank National Composite House Price index rose 0.3% in March over the previous month. The reading showed an increase over February’s 0.1% print and was the highest reading recorded in six months. The countrywide index inched up to an all-time high of 168.0 points in March from February’s 167.5 points.
Regarding regional developments, housing prices increased in 8 of the 11 metropolitan markets surveyed, with the largest monthly increases recorded in Quebec City and Halifax. On an annual basis, house prices rose 4.7% in March, which was just above February’s 4.4% increase.
Author: Robert Hill, Economist