Canada: Housing prices growth gains steam in October
According to the Teranet-National Bank Composite House Price Index, house price growth accelerated to 1.3% on a month-on-month non-seasonally-adjusted basis in October, from September’s 1.1%. In annual terms, house prices were up 8.1% in October, which was up from the previous month’s 6.7% rise.
In October, prices in all 11 markets surveyed increased over the month prior. Prices in Ottawa-Gatineau, Hamilton, Montreal and Victoria increased robustly, while prices in Toronto—which accounts for over one-third of the 11-city composite index—grew 1.0% month-on-month.