Ottawa home prices inch up in January: report

OBJ Staff
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Ottawa home prices rose bucked a national trend and were higher in January than the previous month, according to new figures released Wednesday.

(Stock image)

The Teranet-National Bank composite housing price index is based on data collected from public land registries. In Ottawa, the index climbed 0.5 per cent, the first increase in five months. On a year-over-year basis, the index is up 2.7 per cent.

The findings are in contrast to the most recent report from the Ottawa Real Estate Board, which said the average resale price was down 1.8 per cent to $342,458 in January.

The Teranet-National Bank report found monthly price declines in Calgary, Edmonton, Hamilton, Montreal, Toronto and Vancouver. Increases were reported in Ottawa, Halifax, Quebec City and Victoria.

On a year-over-year basis, every city except Vancouver was in positive territory.

Organizations: National Bank, Ottawa Real Estate Board

Geographic location: Ottawa, Vancouver, Calgary Edmonton Montreal Toronto Quebec City

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