Mortgage Insurance Insights Newsletter
Housing Market Trends
March 31, 2014 | Mortgage Insurance Insights Newsletter
Year-over-year percentage changes in house and condo prices, as recorded in February 2014.
Summary: House Prices Continue to Rise in February
Despite repeated forecasts for a housing market correction, house prices in Canada continue to climb. While national prices are on the rise, there are significant disparities at a regional level. The Western provinces of Alberta and British Columbia remain strongest with prices up 7% and 5%, whereas housing markets in Quebec and most Maritime provinces are weaker (Quebec flat, Nova Scotia down 4%). Even within certain cities, we continue to see some neighbourhood variances. For example, pockets of Vancouver (such as Coal Harbour and Mt. Pleasant) remain down, while overall price appreciation remains strong. In Hamilton, condo prices are down more than 8% while single family detached prices continue to appreciate.
To view additional monthly aggregate house price data for 13 of Canada’s major cities, please visit the Brookfield RPS House Price Index public site.
NOTE: Click on the image of the map to download/print in PDF format.