Map of Canada
composite 11 weightings donut chart Select Ottawa Select Montreal Select Quebec City Select Halifax Select Victoria Select Vancouver Select Calgary Select Edmonton Select Winnipeg Select Hamilton Select Toronto
m/m
ytd
y/y
Index base value of 100 = June 2005
Map of...
Population  
Land in square kilometers  
Population density (pop./km2)  
Number of occupied private dwellings  
Owned / Rented %  
One-family households  
Multi-family households  
Non-family households  
Average household income  
Aggregate value of dwellings  
CMA profile and table data are based on 2011 Census Data
Need additional insight at the FSA or neighbourhood level?
Contact Us About Our Commercial Solutions

Teranet–National Bank House Price Index™

An independent representation of the rate of change of Canadian single-family home prices.
Index
m/m
ytd
y/y
c11 weight
Post Category: Monthly Reports
February 20, 2020
The 12-month rise of the national index has been supported by Eastern Canada

In January the Teranet–National Bank National Composite House Price IndexTM edged up 0.1% from the previous month, a so-so showing for a month of January. In only three of the last 10 years (including last year) has the January change been lower. The composite index was braked this January by declines of the indexes for […]

Countdown to Next Report

Unavailable
00
Days
00
Hours
00
Minutes
00
Seconds
Sign Up Subscribe to our Monthly Report
Post Category: Research
November 14, 2019
Home affordability improves for a third consecutive quarter in Q3 2019

The housing affordability composite index reversed back to its historical average in Q3 2019 as all observed markets improved in each of the last three quarters. The most significant factor to this development was the decline in mortgage rates. Indeed, the free-fall in financing costs over the last nine months was the most substantial since 2012 (-87 bps). The booming labour market also played a significant role in this development as income grew at a whopping 5.1% annualized over that period while home prices did not materially change at the national level. While our national housing affordability composite index is now in line with its historical average (43% of median income), it does not mean that the situation is back to normal in all metropolitan areas. Despite some welcome progress in the last three quarters (see chart on the left), the situation remains difficult in the two largest markets by housing market value. In Toronto, both condo and non-condo affordability improved substantially since Q4 2018 but remain above their respective historical averages. In Vancouver, the monthly mortgage payment as a percentage of income has reverted to its Q1 2016 level helped by a cumulative decline of home prices (down 8.1% since their peak). We note that affordability in the condo market in Greater Vancouver is back to its historical average while the non-condo segment remains costlier. Elsewhere in the country, the Montreal market for its part saw a smaller improvement as home prices registered the largest increase following Ottawa-Gatineau. Surging population growth in Canada’s largest metro areas, coupled with leveling mortgage rates should limit the scope for further improvement in home affordability.

Read research report

Post Category: News and Press Releases
February 20, 2020
National index pulled up by Central and Eastern markets

Canada’s resale home prices continued to rise in January. The HPI of five of the six markets located in Central Canada or in the East (Montreal, Toronto, Hamilton, Ottawa-Gatineau and Halifax) performed well over the last year, the exception being Quebec City. At the opposite, the five righthand charts show negative (Vancouver, Calgary Edmonton) or barely positive (Winnipeg, Victoria) y/y HPI growth. The sub-index for Central and Eastern Canada grew 5.2% over the last 12 months, against a 2.5% fall for the Western sub-index. This is consistent with the various conditions prevailing on the regional markets in Canada. Based on the active-listings-to-sales ratio published by CREA, home resale markets in the Prairie Provinces (Manitoba, Saskatchewan and Alberta) are buyers’ markets, while markets in Ontario, Quebec and the Maritimes Provinces (Nova Scotia, New Brunswick and Prince Edward Island) are sellers’ markets. Recently, the Vancouver market went from favorable to buyers to balanced. The behaviour of Vancouver Teranet-National Bank HPI, which rose over the last four months, is consistent with this improvement in market conditions.

February 2020

Methodology
HPI Methodology
 
Introduction to Index
Introduction to Index
 
Public Solutions

Gain unparalleled insight into the dynamics of a highly varied Canadian housing market with the Teranet-National Bank House Price Index™ monthly public release.

Commercial Solutions

Assess and adjust your risk exposure by monitoring price changes and trends by neighbourhood or region with the Teranet-National Bank Sub-Indices

Media and Partnerships

Looking for specific market information to create new editorial content or innovative ways to present and share housing trends and statistics? We can help.