Vancouver Still Soaring as Toronto Real Estate Is Not Positive For The Very First Time Since 2009
Canadian real estate printed gains from the last year, mostly due to the condos. According to Teranet – National Bank of Canada House Price Index, just a point below all-time high. It was good news and this index shows that Vancouver still soaring as Toronto Real Estate is not positive for the very first time since 2009.
Canadian Real Estate Prices Are Decelerating For The Longest Period Since 2008
Composite 11, weighted aggregate of all types of homes in the 11 largest cities of Canada, that made a big jump in May. Index saw rise in home prices by 1.02% from a month before, that bring home prices up by 4.48% as comparative to the last year. In August 2017, home prices are below by 0.6% to the peak, but things aren’t rosy.
Toronto Real Estate Prices Negative For The Very First Time Since 2009
Toronto real estate had big month, but due to the what National Bank analyst called it a “tight” condo market. Prices in May were up by 1.32% from a month before. Despite of this huge jump, changes in annual price went negative for the very first time since September 2009. Toronto is seeing longest growth deceleration of price in the whole data that set going back to the year 1999.
Vancouver Real Estate Hits New Record High
Real Estate Prices in Vancouver moved to new high level, entirely due to the condos. This city saw increase in monthly price of 1.04% in May, that bring prices up by 15.42% as comparative to the last year. NBC analyst noted that condo prices increased by 17.5% annually vs 4.9% for the other type of housing.
Montreal Real Estate Still Is The “Hot” Real Estate Market
Montreal real estate hits a new peak, but is doing very slowly. Housing Prices in May were up by 0.31% as comparative to a month before. All the gains were added up to the 3.65% from a year before, which is a big climb.