In its latest Housing Price Index
report, the data compiling agency said housing prices rose 4.7 per cent in March, compared to the year-ago period. That increase, it said, represented “an acceleration from February after four consecutive decelerations.”
drove that year-on-year hike, with prices rising 8.4 per cent, 7.6 per cent and 5.3 per cent, respectively.
, Quebec City, Halifax
and Montreal recorded smaller increases, while prices fell 0.9 per cent in Ottawa-Gatineau
and one per cent in Winnipeg
, compared to the year-ago period.
The price index also rose 0.3 per cent over February, marking the third consecutive monthly increase, Teranet-National Bank said.
“The composite index is now at an all-time high, though only the Toronto
component indexes match it in this regard,” the report stated.
March prices were particularly welcome, considering many of the cities with the highest increases faced steep declines in previous months.
In Quebec City, for instance, prices were up 1.5 per cent over February, following a four-month drop. Prices fell in four of the last five months in Halifax
, though the east coast city posted a 1.2 per cent increase in March.
Prices were up 0.4 per cent in Edmonton
, 0.3 per cent in each Toronto
, and 0.2 per cent in each Calgary
faced 0.3 per cent, 0.2 per cent and 0.3 per cent declines, respectively.
For up-to-date house prices for neighbourhoods and cities across Canada, check out CREW's free online investment hotspot tool.
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Home prices across the country are benefitting from the spring thaw, reversing a four-month decline in year-over-year prices, according to new figures from Teranet-National Bank.