Apr 14, 2015
By Michael Kramer
The price of Canadian homes continues to soar – with increases in nine of 11 major cities in March – compared with a year ago.
And those in Toronto and Vancouver set new records – according to the “Teranet” National Bank Canadian Composite House Price Index – which says the numbers nationally were up 4.7 per cent last month – compared with March 2014.
The biggest yearly gain was in Hamilton – with prices rising 8.4 per cent.
Toronto and Vancouver were up 7.6 and 5.3 per cent, respectively – compared with a year ago.
Even in Calgary – where sales have slumped after the drop in oil prices – the cost of a home was up 4.4 per cent – although still down 2.1 per cent from October’s peak.
Prices were down almost one per cent in Ottawa-Gatineau and one per cent in Winnipeg – while Quebec City, Halifax and Montreal recorded small gains.
Out west, prices were up 4.7 per cent year-over-year in Edmonton – and 3.3 per cent in Victoria, BC.