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 2016 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.
c11 weight
Post Category: Monthly Reports
September 20, 2022
Teranet-National Bank House Price Index sees record monthly decline in August

MONTH-OVER-MONTH Before seasonal adjustment, the Teranet–National Bank National Composite House Price IndexTM fell 2.4% from July to August, the largest monthly decline on record since the index began in 1999. After seasonal adjustment, the Teranet–National Bank National Composite House Price IndexTM fell 2.1% from July to August, a record monthly drop and the fourth consecutive […]

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HPIs in Canada -
How methodologies
impact results
Download Whitepaper

This whitepaper offers an overview of:

  • How HPIs are widely used to estimate and monitor economic activity in the housing sector;
  • Insight into the variety of methods for calculating HPIs;
  • How HPIs play a significant role in policy development, market and financial regulation for public and private organizations around the globe.
Post Category: News and Economic Reports
September 20, 2022
Teranet-National Bank House Price Index: Record price drop in August

In addition to recording a fourth consecutive monthly decline on a seasonally adjusted basis, the Teranet-National Bank Composite House Price Index experienced its largest contraction ever in a single month (-2.1%) due to rapidly rising interest rates and a slowing resale market. This historic drop broke the previous record of -1.3% recorded in July 2010 (left chart). August’s data were also unique in that the declines extended to almost all the 31 cities covered by the index, except for the three CMAs located in Alberta (Calgary, Edmonton and Lethbridge), which is unprecedented. The reason for these isolated increases is obviously the high price of energy and many commodities that drive the economy in this province. Since its peak in May 2022, the composite index has already fallen 4.1%, led by significant declines in Hamilton (-10.5%), Halifax (-8.7%) and Toronto (-8.3%). Significant price declines were also observed in several cities not included in the composite index, including Abbotsford-Mission and many cities in the Golden Horseshoe (Brantford, Oshawa, Barrie, Kitchener, Guelph, and Peterborough). It should be noted, however, that the significant declines in these cities follow dramatic price increases since the start of the pandemic (right chart). As the Bank of Canada continues to raise its policy rate into restrictive territory, we expect the composite index to decline from its peak reached earlier this year by 10%-15% by the end of 2023. This assumes a policy rate that tops out below 4.0% and a Bank of Canada that begins to lower interest rates in the second half of 2023 (link).

September 2022

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

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