11/17/2015
The national average for housing price increase is now 5.6%. This average is driven up by three markets, Vancouver, Toronto and Hamilton which have all increased over 9% for the past 12 months. Be careful not to look at national averages when looking at housing prices. It is a very regional statistic and home owners should look to their local real estate statistics to see how their housing prices are increasing.
National Bank says the regional divides in Canadian real estate are more obvious than ever, as just a handful of markets continue to see soaring home prices. The Teranet home price index has risen for the tenth straight month, up 5.6% from year earlier. Greg Bonnell has the details.
