Home Prices in Canada Post Biggest Monthly Gain in 10 Months, Teranet Says

Canadian home prices posted their biggest gain in ten months during June, the Teranet-National Bank Composite House Price Index showed.

Prices rose 1.5 percent during the month, led by Ottawa’s 2.7 percent gain and Toronto’s 2.4 percent increase, according to a report released today by National Bank Financial. On an annual basis, prices rose 13.6 percent, matching the previous month’s rise, led by gains in Toronto and Vancouver.

June was the third straight month in which prices rose from the month before in all cities surveyed, the report said. The index has tracked home-price changes in six Canadian cities -- Halifax, Montreal, Ottawa, Toronto, Calgary and Vancouver -- since February 2000.

To contact the reporter on this story: Alexandre Deslongchamps in Ottawa at adeslongcham@bloomberg.net.

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