Mortgage Insurance Insights Newsletter
Housing Market Trends
September 30, 2014 | Mortgage Insurance Insights Newsletter
- Across Canada, the housing markets remained robust throughout the summer season and national house prices continue to rise by 5-6% on a 12-month basis.
- British Columbia, Alberta and Ontario remain the strongest provinces, driven in large part by house price appreciation in Vancouver, Calgary and Toronto.
- Markets showed somewhat weaker results in the Maritimes, Quebec and Prairie provinces, where house prices decreased year-over-year in PEI, remained flat in Nova Scotia, and showed a modest 2% increase in Quebec, Saskatchewan and Manitoba.
- Exclusive neighbourhoods continue to drive home-price growth in Vancouver and Toronto, with Toronto’s affluent areas of Forest Hill, Allenby and Casa Loma listing an average home price of $1.5 MM. Similarly, house prices went up in the more expensive Vancouver neighbourhoods of Shaughnessy and Pacific Spirit Park.
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.