Photo: Kentaro Ohno/Flickr
Home prices in Canada rose 0.3 per cent in September on the Teranet House Price Index, the third consecutive month in which the change exceeded the historical average for the month in question, and the 10th month in a row in which the composite index did not fall, according to the latest report from Teranet-National Bank.
Since Teranet has been collecting its data on the cost of Canadian homes, the monthly rise from September through February has averaged between 0.1 per cent and 0.2 per cent.
Despite an above-average increase, prices rose in only six of the 11 metropolitan markets surveyed, Teranet reported. Gains soared above the countrywide average in Calgary (up 1.1 per cent), Vancouver (up 0.9 per cent), Toronto and Halifax (both up 0.7 per cent) and Winnipeg (up 0.5 per cent).
Gains were close to average in Quebec City (up 0.2 per cent), while prices were flat in Edmonton and dropped from the month earlier in Hamilton (down 0.4 per cent), Montreal (down 0.9 per cent) Ottawa-Gatineau (down 1.1 per cent) and Victoria (down 1.8 per cent).
September’s rise meant that 12-month home price inflation accelerated 0.4 percentage points to 5.4 per cent, with Calgary (up 9.5 per cent), Toronto (up 7.4 per cent) and Vancouver (up 6.5 per cent) exceeding the countrywide average.