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Published on Oct 1, 2011
On average, Canadian home prices rose by 1.3% compared to June according to Teranet-National Bank House price Index. Here is the breakdown for Canada's 6 major cities:
In Calgary prices rose 2.3%, 1.7% in Toronto, Ottawa prices went up by1% in, 0.9% in Vancouver, 0.5% in Montreal, while declining 0.9% in Halifax. Five of the six metropolitan cities covered in the index hit record highs. According to Teranet, Vancouver July numbers marked the 10th straight month of price increases. Data from the Canadian Real Estate Association showed market conditions were steady throughput Canada, while Toronto's market appears to be tightening.
In Toronto homes prices went up 4.8% compared to 2010. And once again Vancouver showed the largest increase at 8.5%. Calgary was the only city where home prices declined from last year, still 0.9% below those in July 2010. The steadily climb of Canadian real estate prices have brought the national average of $360,000. BMO Nesbitt Burns reported that this figure is more than twice the median existing home price in the U.S., after converting Canadian dollars. You can get regular video updates of the Toronto real estate market simply by subscribing to our Youtube channel at http://www.youtube.com/user/primetoro...