Canadian house prices increased for fifth month in a row in September 2009, according to the Teranet-National Bank National Composite House Price Index released in November 2009.
In particular, the National Composite House Price Index registered a monthly increase of 1.3%, and a year-over-year decline of -1.8%.
House price increases were widespread across Canada, as only one of the six metropolitan areas covered by the index registered monthly declines. The best performing metropolitan areas on a monthly basis were Vancouver, Toronto and Calgary, where house prices increased by 2.1%, 1.5% and 1.1%, respectively, in September 2009. House prices in Ottawa and Halifax increased by 0.9% and 0.6%, respectively. Montreal was the only metropolitan area where house prices declined slightly by 0.2%.
On a year-over-year basis, Canadian house prices increased in Ottawa, Montreal and Halifax by 3.4%, 2.9% and 1.7%, respectively, but decreased in Calgary Vancouver and Toronto by -5.4%, -5.1% and -1%, respectively.
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