HPI up 6.5 Percent

The latest Home Price Index from Teranet-National Bank shows a 6.5 per cent rise in February with Hamilton and Victoria driving the rise along with Vancouver and Toronto. However, on a month-over-month basis, only Vancouver saw a strong increase.

Vancouver was up 14.47 per cent year-over-year and 3.24 per cent in the month; Toronto increased 9 per cent YOY and 0.23 per cent in the month; Hamilton was up 9.54 per cent YOY but down 0.38 in the month; Victoria was up 8.98 per cent YOY and 0.91 per cent in the month.

Calgary saw prices fall 3.26 per cent YOY and 0.95 per cent in February while Edmonton was down 1.02 per cent YOY but saw recovery of 0.09 per cent in the month.

Elsewhere there were gains of less than 1 per cent for Quebec, both year-over-year and in the month to February. Montreal and Ottawa-Gatineau saw narrow decline both annually and monthly; Halifax was down slightly YOY but dropped 2.99 per cent in the month to February; Winnipeg was up 1.33 per cent YOY and 0.15 per cent in the month.

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