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.
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