By Eric Lam, Finan­cial Post

Canada’s econ­omy may have hit the skids in June but real estate prices across the coun­try still jumped almost 2%, the biggest one-month increase in two years, the lat­est Teranet-National Bank National Com­pos­ite House Price Index report said Wednesday.

Cana­dian real estate prices were up 1.7% in June com­pared with the pre­vi­ous month, the biggest month-on-month jump since August 2009 tak­ing the index to a new all-time high of 144.27, the report said.

This is the third straight monthly increase of more than 1% and the sev­enth straight rise in a row. The index is also up 4.5% com­pared with a year ago.

The news comes the same day Sta­tis­tics Canada reported the Cana­dian econ­omy actu­ally shrank 0.4% annu­al­ized in the sec­ond quar­ter, the first con­trac­tion since mid-2009.

Prices were up in all six major met­ro­pol­i­tan mar­kets sur­veyed, with Toronto lead­ing the pack at a 2.0% increase. Van­cou­ver and Ottawa came in at +1.7%, while Cal­gary posted a 1.6% rise, Mon­treal +1.1% and Hal­i­fax +1.0%.

This is the ninth-straight monthly increase for Van­cou­ver, and all-time index highs for five of the six cities.

Cal­gary is 10.9% off its all-time high in August 2007.

Since Ter­anet first started track­ing prices in June 2005 with a base level of 100, home prices have jumped 44.27%.

The Van­cou­ver index leads the pack at 167.77, sug­gest­ing prices have gone up 67.77% since 2005.

Toronto, mean­while, has the low­est index rat­ing at 131.26, mean­ing prices have accel­er­ated only 31.26% in that time.

———————————————————————————————————————
Con­tact the Jef­frey Team for more infor­ma­tion – 416−388−1960

Lau­rin & Natalie Jef­frey are Toronto Real­tors with Cen­tury 21 Regal Realty.
They did not write these arti­cles, they just repro­duce them here for peo­ple
who are inter­ested in Toronto real estate. They do not work for any builders.
———————————————————————————————————————

Related posts:

1. Cana­dian home prices con­tinue to rise Cana­dian home prices were up 13.6% in June from a…
2. Cana­dian home prices con­tinue to rise Cana­dian home prices were up 13.6% in June from a…
3. Cana­dian home prices hit record highs Cana­dian real estate prices reached a record high in July,…
4. Home prices rise for 14^th con­sec­u­tive month Activ­ity so far this year is up 5.6% com­pared to…
5. Canada real estate prices rise in Sep­tem­ber The Teranet-National Bank Com­pos­ite House Price Index, which measures…