House prices down again in Ottawa in January: Teranet

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Housing prices in Ottawa continued their decline, for the fifth straight month, in January, according to the Teranet-National Bank Composite Home Price Index.

The index was down 1.1 per cent from December and declined .6 per cent when compared with January 2013.

The index tracks the change in prices of single family homes across Canada, comparing them with a June 2005 baseline.

Of the 11 major cities included in the index, Halifax and Victoria were the only others to see prices decline.

Vancouver saw the biggest increase, both month to month and year over year.