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For the first time in 11 months, house prices in Metro Vancouver took a breather in September from their dizzying climb, according to the Teranet–National Bank National Composite House Price Index™.
Vancouver‘s 11-month gain in home prices was the longest run among the 11 Canadian real estate markets covered in the survey.
Overall, Canadian house prices were flat over the previous month, with gains in four markets:
• +0.6 per cent Winnipeg
• +0.4 per cent Hamilton
• +0.4 per cent Toronto
• +0.2 per cent Victoria
Price in five real estate markets were down over the previous month:
• -1.1% Halifax
• -0.8% Calgary
• -0.4 % Quebec City
• -0.3% Montreal
• -0.3% Edmonton
Vancouver and Ottawa-Gatineau saw no change in home prices.
The Composite House Price Index for Canada rose 6.5% from September 2010 to September 2011. Vancouver led the country — again — with a 10.4% 12-month rise.
The Teranet House Price Index is an ongoing record tracking aggregate sales of similar homes and is published monthly.
© 2011 REW