Home prices up slightly in Ottawa in May: Teranet

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Home prices in Ottawa inched up again in May, according to a survey of prices in the area, continuing the trend of mostly small monthly increases this year.

The Teranet-National House Price Index, which tracks changes in the average prices of homes in major cities across the country, increased by two per cent over May 2012.

The index also increased 1.1 per cent over April 2013.

The jump mirrored the national trend. The index accounting for 11 cities across the country jumped two per cent over the same month a year earlier and 1.1 per cent over the previous month.

Prices increased over a year earlier in Calgary, Edmonton, Halifax, Hamilton, Montreal, Quebec City, Toronto and Winnipeg.

Vancouver and Victoria both recorded decreases on the price index.