Canada: Housing prices growth loses further steam in December
According to the Teranet-National Bank Composite House Price Index, house price growth decelerated to 0.6% on a month-on-month non-seasonally-adjusted basis in December, from November’s 0.9%. In annual terms, house prices were up 9.4% in December, accelerating from the previous month’s 9.0% rise. Housing prices growth came in at 5.9% last year as a whole hitting a three-year high and up from 2019’s 1.2% rise.
In December, prices in 10 of the 11 markets surveyed increased over the month prior. Prices in Victoria, Halifax and Ottawa increased robustly, while prices in Toronto—which accounts for over one-third of the 11-city composite index—grew 0.4% month-on-month.