Data on the housing markets in Great Britain and Canada today continued to provide ample evidence of a rebound in the fragile global housing market. The Halifax Bank of Scotland published its house price index (HPI) this morning, revealing a 0.3% growth in home values and beating out expectations for only a 0.1% climb. Canada also witnessed a hike in demand for new construction, as signaled by its Building Permits release.
Statistics Canada published at 13:30 GMT today a building permits report which contradicted market forecasts with surprise growth. Analysts were anticipating a decline in demand for new buildings by approximately 4.8%. The actual results showed a jump in demand by 2.1% instead. Both figures taken together, and in conjunction with similar reports from both countries and the United States over the past few weeks, underline the growing strength of the housing market while all other markets appear to be in decline.
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