Home Prices Rising

By Elli Davis, August 29, 2010

Way Up!
Photo by Keno

Home prices in Canada keep on increasing! According to the newest Teranet National Bank Composite House price index report, released earlier this week, the June 2010 increase of housing prices in the country was the most significant one in ten months. Prices rose by as much as 1.5 percent from May of this year.

The prices grew in all six surveyed cities, for the third month in a row. The biggest increase, of 2.7 percent, was recorded in the capital, Ottawa, followed by Toronto with a 2.4 percent growth. Toronto, again and Vancouver were the leading cities when compared to the rise in home prices since June 2009. They increased by 13.6 percent, the same amount as the May 2009 to May 2010 comparison figures.

Over the last couple of months it feels like the only noticeably increase seen in Canadian housing, is the prices, doesn’t it? For Canadians this news is very disappointing.

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