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Sean Kilpatrick/The Canadian Press
Canadian home prices accelerated sharply in March, with Halifax and Hamilton leading a bonanza of month-on-month gains felt across all 11 major markets in the country, data showed on Tuesday.
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, rose 1.5 per cent from the previous month.
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The Canadian dollar was little changed against its U.S. counterpart on Tuesday, with the currency extending its recent sideways pattern after Monday’s federal budget and ahead of a Bank of Canada interest rate decision on Wednesday.
Canadian Prime Minister Justin Trudeau’s government lined up billions in new spending to provide emergency support during a virulent third wave of COVID-19 and to help launch an economic recovery ahead of an election expected later this year.
UPDATE 1-Canadian home prices on fire and policymakers using squirt gun reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Canadian home price gains accelerate sharply in March: Teranet
04/20/2021 | 08:36am EDT
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OTTAWA (Reuters) - Canadian home prices accelerated sharply in March, with Halifax and Hamilton leading a bonanza of month-on-month gains felt across all 11 major markets in the country, data showed on Tuesday.
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, rose 1.5% from the previous month.
Prices rose 3.3% in Halifax, 2.8% in Hamilton and 1.9% in Toronto, with gains in the other major centers ranging from 0.9% to 1.5%.
On an annual basis, the index was up 10.8% in March, the eighth consecutive monthly acceleration and the strongest 12-month gain since September 2017. Halifax led year-on-year gains, up 22.5% from March 2020, followed by Hamilton at 20.9% and Ottawa-Gatineau at 19.0%.
Canadian home price gains accelerate sharply, with Halifax and Hamilton leading charge calgaryherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from calgaryherald.com Daily Mail and Mail on Sunday newspapers.