Finance

Canadian residence costs fall for third month in a row, even in Vancouver

TORONTO – Home costs in Canada fell in December for the third consecutive month, led by weak point in Edmonton and Vancouver, in line with information launched on Monday.

Repeated gross sales of single-family properties confirmed costs fell zero.three% final month from November

Costs fell in seven of the 11 markets studied, stated Teranet. Costs in Edmonton fell 1.four% whereas these in Vancouver declined 1.2%. This was the fifth consecutive month with out index will increase for essentially the most populated metropolitan space of ​​British Columbia.

"The current development of residence costs is clearly downward in most metropolitan markets," Teranet stated in its report.

Canada's housing market has slowed this 12 months. The Financial institution of Canada's price hikes since July 2017.

Costs rose 2.5% in December on an annual foundation, the smallest 12-month advance since 2009, Teranet stated.

© Thomson Reuters 2019

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