I have just been reading the June Teranet–National Bank National Composite House Price Index™ report, to see what has been happening to Real Estate prices across Canada. The index was up 2.6% from the previous month. As with May, it was the largest June rise in the 19-year history of the index and took the composite index to an all-time high, this time for a 17th consecutive month.
So what is this index?
It is an independant index calculating the rate of change in Home prices throughout the Country.
June Teranet–National Bank National Composite House Price Index™ June 2017
Home prices were up on the month in 10 of the 11 metropolitan markets surveyed, led by Hamilton (4.1% – a record monthly rise),Toronto (3.7% – also a record) and Quebec City (3.7%). June gains were also imposing in Vancouver (2.5%), Victoria (2.2%), Edmonton (1.8%), Halifax (1.7%), Montreal (1.6%) and Ottawa-Gatineau (1.2%).
Prices were up a more modest 0.3% in Calgary and down on the month in Winnipeg (−0.3%).
For Toronto it was the 17th straight monthly gain, for Hamilton the 14th, for Victoria the 14th gain in 15 months, bringing all three markets to new records. Though Vancouver prices declined from last October through December, they are at a new high after strong May and June gains.
In June Ottawa-Gatineau prices topped their previous peak of last August and Montreal prices their peak of last July. Conditions in both these markets have tightened considerably.
Fourteen other markets not included in the countrywide composite index – 12 of them in Ontario – were also surveyed. All showed monthly price rises in June, ranging from 1.0% in Kelowna, B.C., to 5.3% in Oshawa and Guelph.
June 2017 Kelowna Real Estate – Price Index & Comparisions.
The Graph below shows just how steadily prices have been rising in Kelowna in the last five years.
Wondering how Kelowna Real Estate prices stack up against other Regions of BC? Check out the Graph showing Vancouver, Abbotsford and Victoria.
Trish and Tanis Real Estate Group
Tel 250 863 8989
Source: Highest June Monthly Rise on Record | House Price Index