House prices continue to rise

by REP12 Nov 2014
Although winter is fast approaching and many have predicted a soft market, Canadian home prices appear to be still keeping at least some upward momentum, mostly thanks to one red-hot market.

The latest house price index from Teranet-National Bank shows that a bumper run has continued witha 0.2 per cent rise in home prices after a three-month run in which monthly gains were above historical averages.

Of the 11 markets surveyed, only five posted price increases: Quebec, Vancouver, Calgary, Hamilton and Montreal. Further, rises in Hamilton, Calgary and Montreal exceeded  the national average.

Without the 1.2 per cent rise in Vancouver prices, Teranet-National Bank said the composite index would have been flat from September.

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