The Teranet-National Bank House Price Index for February has been released, which shows that Canadian house prices rose another 0.4% across the 11 major markets, with annual growth improving to 2.9%:
After falling for 14 straight months, Vancouver house prices have clearly bottomed, rising by 1.6% since their trough in September 2019.
However, Vancouver’s house prices were still down 2.1% from their July 2018 peak.
Elsewhere, Toronto’s and Montreal’s annual house price growth firmed to 5.1% and 7.5% respectively.
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.
Latest posts by Leith van Onselen (see all)
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