Canadian home prices rose 0.6% in December from November, the strongest increase for a December since 2009, led by gains in Victoria, Halifax and Ottawa-Gatineau, data showed on Wednesday.
The Teranet-National Bank Composite House Price Index, which tracks data collected from public land registries to measure changes for repeat sales of single-family homes, showed price gains in 10 of the 11 major metropolitan markets.
Prices rose 1.3% in Victoria, 1.2% in Halifax and 1.2% in the national capital region of Ottawa-Gatineau. The index was down 1.1% in Quebec City, the first major market to show a decline in four months.
On an annual basis, the index was up 9.4% in December, the fifth consecutive acceleration and the strongest 12-month gain since November 2017.
Ottawa-Gatineau led year-over-year gains, up 19.7% from December 2019, followed by Halifax at 16.3% and Hamilton at 15.1%. Calgary home prices are down 1.5% on the year.
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