Home prices post record February increase: Teranet-National Bank index
TORONTO — Canadian home prices posted a record jump for the month of February, fuelled by the Toronto, Hamilton and Vancouver markets.
The Teranet-National Bank national composite house price index gained 1.0 per cent for the month, the largest February increase in the 18-year history of the index.
Toronto soared a record 1.9 per cent, while Hamilton gained 1.4 per cent, also a record increase. Vancouver added 1.4 per cent.
However the story wasn’t the same across the country as seven of the 11 major cities tracked posted a drop for February. Halifax slipped 1.9 per cent, while Calgary fell 1.3 per cent.