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The Teranet-National Bank House Price Index for August has been released, which shows that Canadian house prices rose by 0.4% across the 11 major markets, with annual growth improving to 0.6%:
Across the three major markets, values fell by 0.8% in Vancouver in August, but rose by 0.8% in Toronto and by 1.1% in Montreal.
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In the year to August, Vancouver values tanked by 6.6%, whereas they rose by 3.8% in Toronto and by 5.7% in Montreal.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.