How Did The Latest Canges To Mortgage Rules Affect House Prices!

Toronto is holding out!

As excerpted from Huffington post.

House Prices Falling In Majority Of Canadian Cities As New Rules Kick In

But Vancouver is back to its old tricks, and Toronto is seeing a temporary bounce.

By Daniel Tencer

Todd Korol / Reuters

For sale signs line in Calgary, Alta. Calgary was among the cities that saw falling house prices in January, according to the Teranet-National Bank house price index.

House prices fell in a majority of Canadian cities in January, the first month of tough new mortgage rules at the major banks, new data shows.
The latest edition of the Teranet-National Bank House Price Index shows prices falling in seven of the 11 cities covered.

Among them are Ottawa-Gatineau, Hamilton, Calgary and Edmonton. Halifax, Quebec City and Winnipeg saw particularly steep drops for a single month, with each city's price index down at least one per cent.

HuffPost Canada

It's a different story in Vancouver, where the market appears to be up to its old tricks again — rapid house price increases. The city's price index is up 1.2 per cent on the month, and up nearly 17 per cent over the past year.

Detached home prices in the city are up 13.5 per cent over the past year, while condos have soared by 23 per cent.
Without Vancouver, the national house price index would have dropped for the fifth month in a row, National Bank senior economist Marc Pinsonneault said. But with Vancouver included, it rose 0.3 per cent in January.