UPDATE 1-Canadian home prices rise in July to hit another record

(Adds regional details)
TORONTO, Aug 12 (Reuters) - Canadian home prices rose in
July from the previous month, the seventh consecutive monthly
increase, to hit another record level despite weakness in nearly
half of the cities surveyed, the Teranet-National Bank Composite
House Price Index showed on Wednesday.
The index, which measures price changes for repeat sales of
single-family homes, showed national home prices rose 1.2
percent last month from June. Prices were up 5.1 percent from a
year earlier to a record high.
Canada's two-speed housing market continued, with price
gains in six of 11 cities surveyed, including the two largest
cities, Vancouver and Toronto, where prices have recently hit a
record high nearly every month.
That offset losses including those in the energy heartland
cities of Calgary and Edmonton, where a drop in oil prices has
sapped demand.
From June, prices were up 2.7 percent in Hamilton, 2.4
percent in Toronto, 2.3 percent in Ottawa, 1.7 percent in
Victoria, 1.6 percent in Vancouver and 0.3 percent in Montreal.
Prices were down on the month by 1.9 percent in Calgary, 1.0
percent in Halifax, 0.7 percent in Edmonton, 0.6 percent in
Quebec City and 0.5 percent in Winnipeg.
Compared to a year earlier, prices were up 5.1 percent in
July, matching June's year-over-year gain.
Low interest rates have continued to fuel housing demand in
key markets, despite persistent forecasts for a slowdown or a
U.S.-style collapse after a six-year boom. The Bank of Canada
has cut rates twice this year to support an economy hurt by
falling oil prices.
Still, there are signs of a slowdown, with housing starts
falling more than expected in July to a more sustainable level
consistent with demographic demand, a separate report showed on
Tuesday. I
Compared to July 2014, prices were up 9.9 percent in
Vancouver, 8.4 percent in Toronto, 6.7 percent in Hamilton, 3.9
percent in Victoria, 1.9 percent in Edmonton, 0.9 percent in
Winnipeg, 0.6 percent in Quebec City, and 0.5 percent in Ottawa.
Prices in Calgary were down 2.3 percent compared to a year
earlier, and down 0.6 percent in Halifax.