OTTAWA (Reuters) – Canadian home prices rose 1.3% in October from September, the strongest gain for an October in the index’s 22 years, led by robust growth in the regions of Ottawa-Gatineau and Hamilton, Ontario, data showed on Wednesday.
The Teranet-National Bank Composite House Price Index, which tracks data collected from public land registries to measure changes for repeat sales of single-family homes, showed prices at new peaks in eight of the 11 markets.
Prices were up 2.7% in the capital region of Ottawa-Gatineau and 2.1% in Hamilton, with Montreal up 1.8% and Victoria, British Columbia, up 1.7% in October from September.
On a year-over-year basis, the index was up 8.1% in October, posting the biggest 12-month gain since February 2018. The Ottawa-Gatineau region, which straddles Ontario and