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
Index base value of 100 = June 2005
Map of...
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.
c11 weight
Post Category: Monthly Reports
February 13, 2019
Weakness concentrated in the West

In January the Teranet–National Bank National Composite House Price IndexTM was down 0.1% from the previous month.[1] It was the fifth consecutive month without a rise, the longest such run since March 2013, and was notable for marked retreats in the three largest markets of Western Canada: Edmonton (−0.8%), Calgary (−0.5%) and Vancouver (−0.3%). The […]

Countdown to Next Report

Sign Up Subscribe to our Monthly Report
Post Category: Research
February 04, 2019
Interest rates raise the bar for home ownership in Q4 2018

In Q4, affordability worsened for a 14th consecutive quarter as measured by the urban
composite index. All but two markets experienced a deterioration stemming from a 20-
basis points increase for residential mortgage rates, hitting harder the priciest markets in
the country (see table on page 12 for more details). Financing costs were up for a sixth
consecutive quarter which marked the longest streak of rises since the period of ’99-‘00.
In Vancouver, home prices are decreasing but it did not prevent affordability to
deteriorate further amid higher interest rates and declining median annual income. In this
city, our measure for the non-condo segment have crossed the psychological threshold
of 100% as it would now require 101.5% of pre-tax median household income to pay for a
representative home. In other words, this segment is even more out of reach for a median
income family. As it is the case in Vancouver, both segments at the national level
experienced a significant deterioration over the past 3 years but the magnitude of the
worsening has been less pronounced for condos (left chart) which could explain why
prices are still running at a solid pace in 2018 (+6.2% y/y vs. 1.2% for non-condos). That
being said, a moderation in the condo segment should not be ruled out in 2019 as stiff
competition is now coming from the rental apartment option.

Read research report..

Post Category: News and Press Releases
February 13, 2019
Weakness intensifies in Vancouver, Calgary and Edmonton

In January, the downward trend in home prices intensified in Western Canada’s three
largest metropolitan areas. The indexes for Vancouver, Calgary and Edmonton extended
what are now the longest runs of months without an increase among the 11 metropolitan
areas covered by the national index. It was a seventh month without an increase in
Calgary, a sixth one in Vancouver and a fifth one in Edmonton. Home prices have been
trending down in three of the past four years in Calgary and Edmonton while Vancouver
shows no growth for the first time in six years (left chart). In City of Calgary, the listingsto-
sales ratio was the highest for a month of January since 2014 (right chart) – the year
when the oil price collapse occurred. Both Calgary and Edmonton are facing an outsized
number of vacant new dwellings and continued price weakness. In Vancouver, where
home sales have weakened in recent months, things appear to be stabilizing. After
seasonal adjustment, Vancouver home sales indeed stabilized when compared to
December. Solid labour markets in Greater Vancouver, where a near-record 72K jobs
were added in the last six months, argue for a more stable listings-to-sales ratio and
limited price deflation.

February 2019

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.