Anil Bharwani

Re/Max LifeStyles Realty

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Vancouver house prices hit record high in January

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.

 torton@biv.com

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