Wed Feb 12, 2014 10:37am PST
Vancouver house prices aren’t showing any signs of slowing down after hitting an all-time high in January, according to the Teranet–National Bank Composite House Price Index.
Prices in Vancouver rose 1.1% from December and the latest Teranet data shows the West Coast city has seen prices jump 7.5% year-over-year.
January marks the ninth-straight month prices have gone up in Vancouver.
Toronto, where prices rose .5% from December, was the only other market surveyed to also reach an all-time high.
Even though prices did not hit record highs in nine out of the 11 markets surveyed, Vancouver and Toronto helped drive prices to a record high nationally. House prices across Canada rose .4% in January compared with December.
The Teranet numbers show Canada has seen a 4.5% rise in prices year-over-year.
Teranet–National Bank Composite House Price Index is calculated by tracking observed or registered home prices from data collected from land registries, but the index does not show actual dollar figures.