a

Teranet : Vancouver Repeat Home Sales Prices Continue to Lead the Country


Under Market Updates

Written by

December 17th, 2015

Repeat home sales prices in Vancouver led the country over the past 12 months, according to Teranet’s home price index (HPI) data released December 14, with year-over-year growth of 11.28%.

This was almost double the 6.08% increase seen nationwide, which was the country’s largest 12-month increase since March 2012. Only three other cities—Toronto (up 9.7%), Hamilton (up 9.6%) and Victoria (up 8.7%)—saw increases over the year.

“Prices were barely higher than a year earlier in Montreal (0.7%) and Winnipeg (0.4%) and were down from a year earlier in five of the 11 markets—Edmonton (−0.6%), Ottawa-Gatineau (−0.6%), Halifax (−0.9%), Quebec City (−1.3%) and Calgary (−2.0%),” said National Bank of Canada senior economist Marc Pinsonneault.

“In more than 16 years of existence, the index has never recorded 12-month home-price deflation in more than five of the 11 markets, even in recession.”

Compared with October, repeat sales prices rose 1.35% in Vancouver in November. This was the 11th straight month without a decline and helped propel nationwide growth of 0.19%. The strongest increase in November was in Victoria, up 1.8%.

Teranet’s HPI tracks price changes for repeat sales of single-family homes.

Teranet : Vancouver Repeat Home Sales Prices Continue to Lead the Country by Emma Crawford Hampel | Business in Vancouve

Comments are closed.

 

Back To The Top