8 May 2014
Meanwhile, prices in the Toronto-Oshawa region and Montreal were unchanged. Vancouver and Victoria reported 0.1% and 0.2% declines, respectively.
The Canadian government has intervened in the mortgage sector for several times since 2008 trying to cool the market. The officials warned about high real estate prices and heavily indebted Canadians causing massive defaults in case of an economic shock. Nevertheless, today they predict a gradual stabilization of the market.
It should be noted that the new housing price index doesn’t include condominiums, which, according to the government, are of a special concern.