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The Teranet-National Bank House Price Index™ for August 2011 shows a continuing upward trend in the price of single-family homes across Canada. The index showed a gain of 0.9 per cent, the fifth time in its nine-month rise that it has shown a 0.9 per cent increase or higher.
Metro Vancouver house prices climbed for the eleventh month in a row, increasing by 0.6 per cent.
For the first time, the index included Victoria, where house prices remained flat compared to July.
The index measures the rate of change in single-family home prices and is based on property records of public land registries. It measures data from the 11 major metropolitan areas across Canada.
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