05/15/2014 09:16 EDT | Updated 07/15/2014 05:59 EDT

Average house price rises 7.6% to $409,708 in Canada

The average price of a Canadian home moved higher in April to $409,708, a 7.6 per cent increase in the past year.

The figure continues to be skewed higher by hot markets in Toronto and Vancouver, the Canadian Real Estate Association said in a release Thursday.

When those two cities are stripped out, the average drops to 4.8 per cent, says the association.

More to come