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Canadian home price growth accelerated again in April, with annual price gains breaking the record set last year, index data showed on Wednesday.

The National Bank Composite House Price Index, which tracks repeat sales of single-family homes in major Canadian markets, rose 2.7 per cent in April, up from a 2.1 per cent gain in March. The data is not seasonally adjusted.

On an annual basis, home prices gained 18.8 per cent, smashing the previous record 18.4 per cent set in August, 2021, which it matched last month. Prices rose year over year in all 11 major markets, with Halifax, Nova Scotia and Hamilton, Ont. posting the strongest gains.

On a monthly basis, 10 of 11 major markets posted gains, led by Halifax and the Ottawa-Gatineau capital region. Prices in Edmonton, Alta. bucked the trend, declining 0.7 per cent on the month.

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