The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Thursday, July 29, 2010

Canadian home prices in May were up 13.6% from a year earlier

According to the repeat-sales Teranet-National Bank National Composite House Price Index, Canadian home prices in May were up 13.6% from a year earlier:

"The 12-month gain was strongly influenced by Vancouver, up 17.1%, and Toronto, up 16.0%. In the other four markets surveyed, the 12-month rise ranged from 5.6% in Halifax to 11.4% in Ottawa. In Calgary it was 7.8% and in Montreal 8.5%.

May was the second consecutive month in which prices were up from the month before in all six metropolitan areas surveyed. The monthly rise of the composite index, 1.3%, was the largest since last September. The monthly rise was 2.3% in Ottawa, 1.8% in Montreal (the largest gain in this market since June 2007), 1.2% in Vancouver and Calgary, 1.1% in Toronto and 0.7% in Halifax."