Vancouver resale prices rise for 11th consecutive month: report

Vancouver home resale prices rose in August, its 11th consecutive monthly gain, according to a report released Wednesday.


The Teranet-National Bank Composite House Price Index, which measures price changes for repeat sales of single-family homes in 11 metropolitan areas, showed Vancouver prices were up 0.6 per cent in August from July. It was the longest run of monthly rises in the markets surveyed.


Nationally, the index showed overall prices were up 0.9 per cent in August from July, which was a record high. It was also the ninth consecutive monthly increase.


Vancouver's yearly gain from the composite index was up 9.9 per cent, exceeding the national average of 5.4 per cent.


Vancouver also had an index value of about 171 (June 2005 = 100), meaning home prices have increased about 71 per cent since June 2005.


The index tracks home prices over time for repeat sales, so properties with at least two sales are required in the calculations. Actual prices were not provided in the report.


Mike Walton

Mike Walton

CENTURY 21 In Town Realty
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