June 30, 2010
I’m tentative to post this, not because it’s not true… but because I’m afraid we’ll sound like a broken record to our readers. But housing prices have gone up– again!
That’s right, in the month of April housing prices went up 0.8%. And that means that we’re celebrating Canada’s one year anniversary of housing price increases month-over-month. Go Canada go!
According to the Financial Post:
The index takes into account price trends in six urban areas. Prices in Halifax were up 1.9% for the month, Montreal and Ottawa home prices were ahead 1.1%, Toronto was up 0.6%, and Calgary and Vancouver were both ahead 0.8%.
That means that the national composite home price index rose 12.9% over the past year. That’s a very high annual return in any market, especially considering it’s not some crazily risky market like potash derivatives or something like that.