Home prices rose 5.4% in this country from last year in October, led by strong annual increases in Vancouver, Calgary, Hamilton and Toronto.
On a year-on-year basis, all 11 cities measured in the Teranet-National Bank index saw house prices rising, with the exception of Victoria, where prices fell 0.1% from October 2013.
The index is now at a record level, reflecting continued demand for resale homes as mortgage rates remain low. The index has been rising for 11 straight months.
The results highlight the unevenness of the increases in house prices across the country.
In Calgary, home prices are up 9.1% on the year; in Toronto, 7.4%; in Hamilton, 7.3 per cent; and in Vancouver, 6.5%. The resale market in these four urban areas is balanced or tight, meaning homes to buy are in short supply, Teranet reports.
The 12-month rise was more moderate in Edmonton (4.9%), Winnipeg (2.5%), Montreal (1.1%) and Quebec City (1.0%).
On a month-to-month basis, the results are more uneven, with prices down from the month before in Victoria, Toronto, Edmonton, Winnipeg, Ottawa-Gatineau and Halifax.
