{"id":71542,"date":"2026-03-27T12:01:22","date_gmt":"2026-03-27T12:01:22","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2026\/03\/27\/posthaste-believe-it-or-not-but-home-prices-rose-in-these-11-major-canadian-cities\/"},"modified":"2026-03-27T12:01:22","modified_gmt":"2026-03-27T12:01:22","slug":"posthaste-believe-it-or-not-but-home-prices-rose-in-these-11-major-canadian-cities","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2026\/03\/27\/posthaste-believe-it-or-not-but-home-prices-rose-in-these-11-major-canadian-cities\/","title":{"rendered":"Posthaste: Believe it or not but home prices rose in these 11 major Canadian cities"},"content":{"rendered":"<p> \n<br \/><br \/>\n<iframe loading=\"lazy\" title=\"Markets making wrong call on interest rates.\" width=\"1080\" height=\"608\" src=\"https:\/\/www.youtube.com\/embed\/s-Ai9BBsmEY?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><br \/>\n<\/iframe><br \/>\n<img decoding=\"async\" alt=\"\" data-has-syndication-rights=\"1\" data-license-id=\"\" data-portal-copyright=\"\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg\" title=\"\" \/><\/p>\n<p> Rising food prices<\/p>\n<p>                         and the soaring cost of filling up at the gas pump are hitting pocketbooks hard, and you can now add <\/p>\n<p>                        housing prices<\/p>\n<p>                         to the list of financial stressors, given they rose in many Canadian cities last month according to a report Thursday from Ratehub.ca. <\/p>\n<p> \u201cDemand for Canadian real estate remains frosty compared to recent years, but the most recent price data shows some regional markets are starting to firm up as the early spring market approaches,\u201d the online mortgage company said in a press release. <\/p>\n<p> Ratehub said month-over-month home prices rose in 11 of 13 major cities in February, so homebuyers would have needed more income to qualify for a mortgage in most of those cities. <\/p>\n<p> Montreal<\/p>\n<p>                         homes had the largest price increase, jumping to an average of $594,200 from $579,900 on an unadjusted basis. The income required to qualify for a <\/p>\n<p>                        mortgage<\/p>\n<p>                         in the city under the <\/p>\n<p>                        mortgage stress test<\/p>\n<p>                         was $127,600 in February compared with $124,800 at the start of the year, resulting in a monthly mortgage payment increase of $76. <\/p>\n<p> \u201cIndexed home prices for Canada were up overall,\u201d Mike Rizvanovic, a financial services analyst at Scotia Capital Markets, said in a note, citing a 0.5 per cent month-over-month increase month over month in February. <\/p>\n<p> Rising prices aren\u2019t what policymakers want to see. <\/p>\n<p> \u201cWe need house prices to come down so that housing is more affordable,\u201d Carolyn Rogers, senior deputy governor at the <\/p>\n<p>                        Bank of Canada<\/p>\n<p>                        , said during a press conference last week following the decision to hold interest rates. \u201cThere isn\u2019t really a path to affordability, particularly in some of our big centres, without house prices correcting a bit.\u201d <\/p>\n<p> In an effort to move the needle on <\/p>\n<p>                        affordability<\/p>\n<p>                         and revive demand and construction, <\/p>\n<p>                        Ontario<\/p>\n<p>                         and the federal government on Wednesday announced that homebuyers can now qualify for a <\/p>\n<p>                        one-year exemption<\/p>\n<p>                         from the 13 per cent harmonized sales tax (HST) on newly constructed homes valued at $1 million or less. <\/p>\n<p> Halifax and Hamilton ranked second and third on Ratehub\u2019s list, with home prices respectively rising to $558,600 from $545,200 and $736,500 from $725,100, increasing monthly mortgage payments by $71 and $61, respectively. <\/p>\n<p> The income needed to qualify for a mortgage under the stress test rules rose by $2,650 in Halifax to $120,850, and by $2,300 in\u00a0Hamilton to $154,600. <\/p>\n<p> In <\/p>\n<p>                        Toronto<\/p>\n<p>                        , the average home price rose 0.4 per cent to $938,800, so the income needed to qualify rose by $890 to $193,000. <\/p>\n<p> Affordability improved in Vancouver, where average home prices fell $1,600 to about $1.1 million,\u00a0and St. John\u2019s, N.L., where they dropped by $6,300 to $389,200. <\/p>\n<p> But rising prices don\u2019t mean that the Canadian housing market is recovering its momentum, with Rizvanovic saying that the national inventory rate tightened up in February compared to January. <\/p>\n<p> Sales in February were down 24 per cent compared to the five-year average and 20 per cent from the 10-year average. Mortgage originations in February were a third below the peak in early 2022. <\/p>\n<p> Ratehub based its mortgage calculations by using a 10 per cent down payment, a 25-year amortization period, $4,000 in annual property taxes and $150 in monthly heating bills. Mortgage rates were the average of the Big Five banks\u2019 five-year fixed rate and average home prices came from the Canadian Real Estate Association\u2019s home price index. <\/p>\n<ul class=\"related_links\">\n<li>Posthaste: Canada&#8217;s troubled housing market just got hit with another headwind<\/li>\n<li>Posthaste: Why insurance premiums are surging in Canada \u2014 especially in these cities<\/li>\n<\/ul>\n<hr \/>\n<p> <em><strong>\u00a0Sign up here to get Posthaste delivered straight to your inbox.<\/strong><\/em> <\/p>\n<hr \/>\n<p> <strong><br \/> <img loading=\"lazy\" decoding=\"async\" alt=\"\" class=\"aligncenter size-full wp-image-1758646\" height=\"114\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png\" width=\"838\" \/><\/strong> <\/p>\n<p><img decoding=\"async\" alt=\"\" data-has-syndication-rights=\"1\" data-license-id=\"\" data-portal-copyright=\"\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2026\/03\/cottage-prices.png\" title=\"\" \/><\/p>\n<section class=\"story-v2-content-element article-content__content-group article-content__content-group--story\">\n<div class=\"story-v2-content-element-inline\">\n<section class=\"story-v2-content-element article-content__content-group article-content__content-group--story\">\n<div class=\"story-v2-content-element-inline\">\n<p>The work-from-home boom that drove buyers into Canada\u2019s cottage market during the COVID-19 pandemic is now fading as some families return to city life, but limited supply continues to push recreational property prices higher, says real estate brokerage, Royal LePage.<\/p>\n<\/p><\/div>\n<\/section>\n<section class=\"story-v2-content-element article-content__content-group article-content__content-group--story\">\n<div class=\"story-v2-content-element-inline\">\n<p>According to the company\u2019s 2026 Spring Recreational Property report, 35 per cent of realtors observed a reversal in earlier migration trends with an increase of full-time residents moving back to urban centres over the last year. \u2014 <em>Shantae Campbell, Financial Post<\/em><\/p>\n<p>Read the full story here.<\/p>\n<\/p><\/div>\n<\/section><\/div>\n<\/section>\n<section><\/section>\n<section class=\"story-v2-content-element article-content__content-group article-content__content-group--story\">\n<div class=\"story-v2-content-element-inline\">\n<hr \/><\/div>\n<\/section>\n<p><img decoding=\"async\" alt=\"\" data-has-syndication-rights=\"1\" data-license-id=\"\" data-portal-copyright=\"\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/07\/subhead-1.jpg\" title=\"\"><\/p>\n<ul>\n<li><strong>Today\u2019s data<\/strong>: University of Michigan consumer sentiment and inflation expectations<\/li>\n<li><strong>Earnings: <\/strong>Denny\u2019s Corp.<\/li>\n<\/ul>\n<p>\n<img loading=\"lazy\" decoding=\"async\" alt=\"\" class=\"aligncenter size-full wp-image-3080180\" height=\"114\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg\" width=\"838\" \/> <\/p>\n<p><img decoding=\"async\" alt=\"\" data-has-syndication-rights=\"1\" data-license-id=\"\" data-portal-copyright=\"\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2026\/03\/chart-0327-ph.jpg\" title=\"\" \/><\/p>\n<figure class=\"embedded-image\"><\/figure>\n<hr \/>\n<p> <strong><img loading=\"lazy\" decoding=\"async\" alt=\"\" class=\"aligncenter size-full wp-image-3080181\" height=\"114\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg\" width=\"838\" \/><\/strong> <\/p>\n<ul>\n<li>Disagree with CRA\u2019s notice of assessment? Make sure to file your objection by the deadline<\/li>\n<li>LNG Canada signs key pipeline agreement required for phase two expansion<\/li>\n<li>Canada\u2019s economic performance has been lagging the U.S. for years, and this is to blame<\/li>\n<\/ul>\n<p> <img loading=\"lazy\" decoding=\"async\" alt=\"\" class=\"aligncenter size-full wp-image-2059284\" height=\"114\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png\" width=\"838\" \/><br \/>\n<span><\/span> <\/p>\n<p> <span>When a young adult is ready to move out, it can be tempting for parents to step in and solve their financial challenges. Families with more flexibility may offer to cover rent shortfalls, top up savings or absorb unexpected expenses. That generosity comes from a place of love, but there is a difference between helping and carrying. Mary Castillo explains the difference and includes suggestions for how you can help your young adult find their wings instead of clipping them. Read more here.<\/span> <\/p>\n<p> <span><\/span><br \/>\n<img decoding=\"async\" alt=\"\" data-has-syndication-rights=\"1\" data-license-id=\"\" data-portal-copyright=\"\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/11\/FP-West-Energy-Insider-Logo.png\" title=\"\" \/><\/p>\n<p>                         Interested in energy? The subscriber-only FP West: Energy Insider newsletter brings you exclusive reporting and in-depth analysis on one of the country\u2019s most important sectors. <\/p>\n<p>                        Sign up here. <\/p>\n<hr \/>\n<div class=\"x_elementToProof\"><span>Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at\u00a0<\/span>wealth@postmedia.com<span><\/span><span>\u00a0with your contact info and the gist of your problem and we\u2019ll find some experts to help you out while writing a Family Finance story about it (we\u2019ll keep your name out of it, of course).<\/span><\/div>\n<hr \/>\n<h2>McLister on mortgages<\/h2>\n<p> Want to learn more about mortgages? Mortgage strategist Robert McLister\u2019s <\/p>\n<p>                        Financial Post column <\/p>\n<p>                        can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Plus check his <\/p>\n<p>                        mortgage rate page<\/p>\n<p>                         for Canada\u2019s lowest national mortgage rates, updated daily. <\/p>\n<hr \/>\n<h2>Financial Post on YouTube<\/h2>\n<p> Visit the Financial Post\u2019s <\/p>\n<p>                        YouTube channel<\/p>\n<p>                         for interviews with Canada\u2019s leading experts in business, economics, housing, the energy sector and more. <\/p>\n<hr \/>\n<p> <em>Today\u2019s Posthaste was written by Gigi Suhanic with additional reporting from Financial Post staff and Bloomberg.<\/em> <\/p>\n<p> Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0<\/p>\n<p>                        posthaste@postmedia.com<\/p>\n<p>                        . <\/p>\n<hr \/>\n<p> <em><strong>Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here<\/em> <\/p>\n<p><\/img><br \/>\n<br \/>\n<br \/>Posthaste: Believe it or not but home prices rose in these 11 major Canadian cities<\/a><br \/>\n<br \/>2026-03-27 12:01:22<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rising food prices and the soaring cost of filling up at the gas pump are hitting pocketbooks hard, and you can now add housing prices to the list of financial&#8230;<\/p>\n","protected":false},"author":2,"featured_media":71543,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-71542","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/71542","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=71542"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/71542\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/71543"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=71542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=71542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=71542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}