Aug 12, 2016

By Michael Kramer

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Strong growth in some of Canada’s hottest housing markets – helped the sector to a two per cent national price increase in July.
The Teranet-National Bank National Composite House Price Index measures price changes on repeat single-family home sales.
The index shows the second-highest July jump in its 17-year history.
Toronto was up 3.1 per cent – the 14th increase in 15 months – and Hamilton set a fifth month of record prices – with a 2.4 per cent gain.

Victoria led the country with a 3.8 per cent increase from a month earlier – the 18th consecutive month of gains.

The energy downturn in Alberta had a limited effect on home prices, with prices in Edmonton flat – and Calgary down 0.1 per cent.
In Eastern Canada, Halifax saw a 0.4 drop and Quebec City a 1.6 per cent loss.

Since July 2015, Vancouver has seen a 24.3-per-cent price increase on the index – with Toronto at 13.3 per cent.

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