Canadian Housing Prices Increased for Sixth Month in a Row
Canadian housing prices increased for sixth month in a row in October 2009, according to the latest release of the Teranet – National Bank House Price Index™.
In particular, the National Composite house price index registered a monthly gain of 1.3% in October 2009, matching the increase posted in the previous month.
The index registered also its first year-over-year gain of 0.6% after several months of year-over-year declines.
Canada housing prices in October 2009 increased in all six metropolitan areas covered by the index but at significantly different rates. Vancouver and Toronto were the two best performing markets with monthly increases of 1.8% and 1.6%, respectively.
The two most poorly performing Canadian housing markets were Ottawa and Montreal with monthly increases of 0.3%. Calgary and Halifax housing markets registered monthly increases of 0.8% and 0.4%, respectively.
Canadian housing prices registered significantly varying year-over-year trends as well, as they decreased by 3.6% and 2.2% in Calgary and Vancouver, respectively, but registered gains ranging between 2.3% and 3.4% in the other four metro areas.
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