Home price index for Ottawa hits all-time high

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Ottawa-area home prices increased slightly in August, according to a survey of prices in the area, helping push the indexed average for the region to an all-time high.

The Teranet-National Bank National Composite House Price Index, which tracks changes in the average prices of homes, rose 0.2 per cent during the month of August. That’s a 0.3 per cent increase when compared to the same period last year.

Housing prices in the region have increased 43.47 per cent since June 2005. That’s behind the national average, which has seen prices rise 59.12 per cent since that time period.

The national average, based on prices in Canada’s 11 largest metropolitan areas, also reached an all-time high. It increased 0.6 per cent in August, a 2.3 per cent increase over the year before.