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
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Index base value of 100 = June 2005
Map of...
Population  
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Population density (pop./km2)  
Number of occupied private dwellings  
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Non-family households  
Average household income  
Aggregate value of dwellings  
CMA profile and table data are based on 2011 Census Data
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Teranet–National Bank House Price Index™

An independent representation of the rate of change of Canadian single-family home prices.
Index
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Post Category: Monthly Reports
June 13, 2018
THE STABILIZATION OF HOME PRICES CONFIRMED IN MAY

In May the Teranet–National Bank National Composite House Price IndexTM  was up 1.0% from the previous month. This confirms the index stabilization following the downward trend that prevailed over the second half of 2017. The last monthly gain is one tick less than the May average of 1.1% over the 20 years of index history. […]

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Post Category: Research
February 14, 2018
Vancouver again drove the Composite in January

OPINION: Just like it did the prior month, Vancouver drove the Composite index in January – without Vancouver, the Composite index would have retreated for a fifth month in a row (top chart). On a y/y basis, Vancouver’s index for condos surged 23.0%, while the index for other types of dwellings rose 13.5%. The fact is that Vancouver’s home resale market remained tight even after the introduction of a tax on acquisitions by foreigners (middle chart). The same cannot be said of Toronto, where the market turned from tight to balanced after the introduction of a similar tax last April. Toronto’s index was nevertheless up in January for the first time in six months, after the unsmoothed index (see note on methodology on next page) rose for a third month in a row (bottom chart). This firming of home prices in Toronto might reflect a rush to buy with pre-approved mortgages granted before more stringent rules on qualification for an uninsured mortgages were applied starting January 1st. With further increases in mortgage rates still to come (according to CMHC, posted 5y rates were at 4.14% in January against a low of 3.59% last May), it is premature to conclude that home prices have definitely turned the corner in Toronto.

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Post Category: News and Press Releases
June 13, 2018
Teranet-National Bank HPI: The stabilization of home prices confirmed in May

OPINION: May’s rise in the Teranet-National Bank HPI confirmed the stabilization of home prices that took place since the end of last year, following a correction in H2 2017 (top chart). It is true that this stabilization was accompanied by a shift of price momentum in favor of condos in Toronto and Vancouver. Given the high price level for other types of dwellings in these cities, rising interest rates and tighter mortgage underwriting standards, this shift should not be surprising.  But fortunately, it did not result in an outright price decline for other types of dwellings in these cities (middle chart). In other regions covered by the Composite index, prices have regained most of the ground lost in Q1 (bottom chart). Given that interest rates are likely to continue to increase, a relapse of home prices over the next few quarters cannot be ruled out. But their resilience so far suggests that price declines would then be limited in scope.

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May 2018

Methodology
HPI Methodology
 
Introduction to Index
Introduction to Index
 
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