Canadian home price gains accelerated again in January, climbing 1.3 per cent from December, on rises in nine of the 11 major markets, data showed on Thursday.
The Teranet-National Bank Composite House Price Index, which tracks repeat sales of single-family homes in major Canadian markets, had climbed 0.8 per cent in December from November.
January’s jump was driven by Hamilton, Ontario, and Toronto, up 2.1 per cent and 1.9 per cent respectively on the month.
On an annual basis, the index rose by 16.6 per cent, up from 15.5 per cent last month. Halifax, Nova Scotia led the way with a 31.7 per cent year-over-year gain, while Hamilton registered a 25.5 per cent gain. All 11 major cities posted gains on the year.
Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Sign up today.