Prices for repeat sales of homes across Metro Vancouver increased 1.43% in February after growing 0.3% in January, according to the Teranet House Price Index, which measures price changes for repeat sales of single-family homes.
This was higher than the national average increase seen in the month.
“In February, the [Canada-wide index] was up 1% from the previous month – the largest February increase in the 18-year history of the index,” Teranet said in a press release.
Growth was driven by the increase in Vancouver, as well as strength in Toronto (up 1.9%) and Hamilton (up 1.4%). While the monthly increases were February records in those two Ontario cities, Vancouver’s increase was lower than the 3.2% jump seen in the same month last year.
Prices also increased in Ottawa (up 0.9%) but fell in all other major markets including Victoria (down 0.1%), Montreal (down 0.2%), Edmonton (down 0.5%) and Calgary (down 1.3%).
Teranet’s figures differ from statistics released by the Real Estate Board of Greater Vancouver and the British Columbia Real Estate Association because those organizations measure all home sales, not just repeat sales of single-family dwellings.
@EmmaHampelBIV
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