Canadian housing market weakest since GFC

By Leith van Onselen

The Teranet-National Bank House Price Index for August was released overnight, which shows that Canadian house price growth has stalled, growing at the slowest annual rate since the Global Financial Crisis (GFC):

In the year to August, Canadian home values rose by just 1.4% –  the slowest growth since October 2009. This growth was driven by Vancouver (+7.6%) and Montreal (-4.8%), whereas values in Canada’s biggest city – Toronto – fell by 3.3%.

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Leith van Onselen

Leith van Onselen is Chief Economist at the MB Fund and MB Super. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.

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