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  
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
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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
m/m
ytd
y/y
c11 weight
Post Category: Monthly Reports
January 14, 2019
Home prices trended down in the second half of 2018

The Teranet–National Bank National Composite House Price IndexTM for December was down 0.3% from the previous month.[1] It was the third consecutive monthly retreat. The component indexes were down for seven of the 11 metropolitan markets surveyed: Edmonton (−1.4%), Vancouver (−1.2%), Winnipeg (−0.9%), Calgary (−0.6%), Victoria (−0.4%), Hamilton (−0.4%) and Quebec City (−0.4%). Indexes were […]

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Post Category: Research
November 15, 2018
Housing affordability worsens again in Q3 2018

In Q3, affordability worsened in no less than 9 out of ten urban markets which explains the
13th consecutive deterioration of our urban composite index. Expensive housing markets
such as Vancouver and Toronto slowed down markedly in 2018 and home prices even
declined in Q3 due to the combined effect of rising mortgage rates (up for a fifth consecutive
quarter) and macro prudential measures. Despite lower home prices, homebuyer
affordability failed to improve as wages were down in those markets (left chart). Elsewhere,
Montreal and Ottawa-Gatineau experienced the sharpest deteriorations in affordability
among urban centers in Q3 but for another reason: home prices surged respectively by 2.1%
and 2.5% Q/Q. These markets appear to be unaffected by rising interest rates and tighter
credit standards as shown by resale market conditions being strongly tilted in favor of sellers.
Looking at the national picture, while a significant portion of home buyers have been priced
out of single-family homes, demand is currently strong for condos as shown by prices rising
6.8% over the past year (non-condo prices are flat). As a result, the affordability deterioration
was more pronounced in this segment (vs. non-condo) in each of the last four quarters (right
chart).

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Post Category: News and Press Releases
January 14, 2019
Widespread declines in home prices over Q4 2018

Home prices weakened in the second half of 2018 in most of the metropolitan areas
constituents of the Teranet-National Bank Composite HPI. The Calgary index did not rise
for a sixth month in a row in December. It was a fifth month in a row for Vancouver, and
a fourth one for Edmonton. Weakness became apparent in Q4 for six other metropolitan
areas, when only Montreal and Ottawa-Gatineau experienced home price growth (left
chart). This is the worst 3-month diffusion for December in five years. This conclusion
still holds If we also include in the sample 14 other Canadian metropolitan areas for
which a Teranet-National Bank HPI is available (although not integrated in the national
composite index) – right chart. Higher mortgage rates and tougher qualification rules are
causing the cooling in most major home resale markets in Canada. The recent increase
in vacant new dwellings may also add to downward price pressure in some markets. At
this juncture, we continue to expect a soft landing of the Canadian home resale market.

.January 2019

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HPI Methodology
 
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Introduction to Index
 
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