Canada: Increase in house prices accelerates in July
August 14, 2014
The Teranet-National Bank National Composite House Price index in July rose 1.1% over the previous month, coming in above June’s 0.9% increase and representing the largest monthly gain since June 2012. The countrywide index increased to a record high of 165.8 points.
Regarding regional developments, housing prices rose in 10 of the 11 metropolitan markets surveyed and the largest gains were recorded in Victoria and Ottawa-Gatineau. On an annual basis, house prices rose 4.9% in July, exceeding June’s 4.4% expansion.