Tyler Orton
Other
Metro Vancouver house prices are up from March to April, making it the only Canadian city whose prices have gone up 12 months consecutively, according to the Teranet–National Bank Composite House Price Index.
The data released May 14 revealed home prices on the West Coast city went up 0.5% in April – a new high – compared with the month before.
That falls in line with the national average, but is below gains made in Calgary (1.5%) and Montreal (0.8%).
“Though the gain might appear robust, it must be said that apart from the recession in 2009, the composite index always advanced in April,” the report said.
Furthermore, March numbers were flat throughout most of Canada – the first time that’s happened in 15 years other than during the 2009 recession year.
Meanwhile, Victoria saw the sharpest decline among major cities as house prices fell 1% from March to April.
Year-to-year, house prices are up 4.9% throughout Canada.
Vancouver house prices, however, have increased by 9% compared to the same period last year.
Once again, only Calgary is outpacing Vancouver after it posted a year-to-year increase of 10%.
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