Mortgage Insurance Insights Newsletter
Housing Market Trends
July 4, 2014 | Mortgage Insurance Insights Newsletter
Year-over-year percentage changes in house and condo prices, as recorded in May 2014.
Summary: House Prices Remain Strong Across Canada
Despite a delayed start to the spring market, housing activity increased over the past quarter, resulting in strong home prices sustained throughout most of Canada. The Western provinces of British Columbia and Alberta showed the most significant changes (prices went up 7% and 5%), while housing markets in Saskatchewan, Quebec and most of the Maritime Provinces demonstrated somewhat weaker results (Quebec and Saskatchewan up 1%, PEI down 3%). In parts of British Columbia and Ontario, home prices recorded in exclusive neighbourhoods remained robust. In Vancouver, prices went up more than 15% in the high-end neighbourhoods of Marpole and Kerrisdale, while similar trends were apparent in Toronto, where home prices in the affluent neighbourhoods of Forest Hill, Lytton Park and Moore Park were up between 15% and 20%.
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.