After adjusting for seasonal effects, the Teranet-National Bank Composite House Price Index™, which covers the country’s eleven largest CMAs, declined by 0.4% from September to October, the first decrease following five consecutive monthly increases. In October, four of the 11 CMAs included in the index experienced decreases: Toronto (-1.6%), Edmonton (-1.2%), Vancouver (-1.1%) and Ottawa-Gatineau (-1.1%). Conversely, notable increases were recorded in Montreal (+3.7%), Halifax (+1.1%) and Winnipeg (+1.0%). On the other hand, decreases were observed in 11 of the 20 CMAs not included in the composite index for which data are available in October. The biggest monthly decreases were seen in Saint John (-5.3%), Trois-Rivières (-3.3%) and London (-2.5%). Conversely, the biggest increases were in Moncton (+4.6% after a 2.3% drop the previous month), Kingston (+3.8%) and Peterborough (+2.6%).
Before seasonal adjustments, the Teranet-National Bank Composite House Price Index™ fell by 1.0% from September to October, the second consecutive monthly decline.
The Teranet-National Bank Composite Home Price Index™ rose by 2.8% from October 2022 to October 2023. Increases were observed in 9 of the 11 cities making up the composite index in October. Halifax led the way with a 12.5% year-on-year price increase, followed by Victoria with a 6.5% gain and Quebec City with 6.3% growth. As for lagging markets, prices fell in Edmonton (-3.6%) and Ottawa-Gatineau (-0.5%). As for the other 20 CMAs not included in the composite index, annual gains were observed in 16 of them. The strongest growth was recorded in Moncton (+13.0%) and Sherbrooke (+9.4%), while the steepest declines were in London (-2.1%) and Barrie (-0.9%).
- Composite 11
- All Metropolitan Indices
- British Columbia
- New Brunswick
- Nova Scotia
|Metropolitan area||% change m/m||% change m/m, SA||% change y/y||From peak||Peak date|
Economics and Strategy Group
National Bank of Canada