Investing.com - Financial Markets Worldwide
🔴 LIVE: The Secrets of ProPicks AI Success Revealed + November’s List FREEWatch Now

UPDATE 1-Canadian home prices rise 0.8 pct in March from February

Published 2016-04-15, 09:27 a/m
© Reuters. UPDATE 1-Canadian home prices rise 0.8 pct in March from February

(Adds details from report)
TORONTO, April 15 (Reuters) - Canadian home prices rose in
March, buoyed by strength in the Vancouver market, the
Teranet-National Bank Composite House Price Index showed on
Friday.
The index, which measures price changes for repeat sales of
single-family homes, showed national home prices rose 0.8
percent last month from February and increased 7.0 percent from
a year earlier.
This was the largest annual increase since December 2011.
The month-to-month rise was the sharpest for a March since 2008.
Prices were up on the month in six of the 11 metropolitan
markets surveyed.
The gain came mostly from a 2.8 percent jump in Vancouver,
where the region's Real Estate Board reported the
highest-selling March since it began tracking this data, on the
heels of a record February.
Prices were up 0.9 percent in Montreal and 0.3 percent in
Toronto.
The biggest drop was 3.1 percent in Halifax. In Calgary,
prices fell 0.3 percent, their sixth consecutive monthly
decline.
For Vancouver, March was the 15th consecutive month without
a decline.
Analysts have debated whether Vancouver's lofty price
increases are sustainable or whether overseas buyers are
boosting them.
Canada's housing market growth has been robust in the years
since the global financial crisis, in part because of low
borrowing costs. But a more varied market has emerged recently,
with price gains continuing in the hot markets of Toronto and
Vancouver, while the energy-sensitive regions have slowed and
the rest of the country has plodded along.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.