Post Category: Rapports mensuels
March 14, 2018

L’indice de prix de maison Teranet – Banque Nationale diminue d’un cran en février

En février, l’indice composite national de prix de maison Teranet – Banque NationaleMC a diminué de 0,1 %, après que des hausses en décembre et janvier derniers aient interrompu une tendance baissière. C’est la première baisse de l’indice en février depuis 2013. L’indice n’a augmenté que dans trois des 11 régions métropolitaines couvertes, ce qu’on n’avait pas vu depuis octobre 2014. En effet, l’indice a crû à Vancouver (0,4 %), Hamilton (0,2 %) et Halifax (0,8 %). En revanche, il est demeuré stable à Victoria, et a diminué à Toronto (-0,1 %), Montréal (-0,3 %), Ottawa-Gatineau ( 0,7 %), Edmonton (-0,8 %), Calgary (-0,8 %), Winnipeg (-1,0 %) et Québec (-1,5 %).

L’indice progressait à Vancouver pour une 12ème fois en 14 mois, établissant un nouveau record. Toutefois, l’indice brut a décliné de 1,3 % en février, ce qui coïncide avec un ralentissement des ventes de logements selon la Chambre immobilière du Grand Vancouver. L’indice brut a reculé à Toronto après trois hausses consécutives. En effet, au cours des mois précédents, les observateurs avaient noté une certaine ruée des acheteurs dans le but apparent d’éviter le durcissement des conditions d’obtention d’un prêt hypothécaire non assuré. Par ailleurs, la montée de l’indice à Hamilton a interrompu une séquence de cinq replis, tandis que la baisse de l’indice à Montréal était la première en 14 mois. Celle-ci n’inquiète pas car la Chambre immobilière du Grand Montréal rapporte après deux mois en 2018 le meilleur départ des ventes de logements depuis six ans.

En février, la progression de l’indice composite sur 12 mois a été de 7,5 %, la plus faible depuis mars 2016, et une huitième décélération de suite par rapport au rythme record de 14,2 % enregistré en juin dernier. Cette croissance a été alimentée par Vancouver (15,8 %), Victoria (12,4 %) et Hamilton (8,4 %). Bien qu’en-deçà de la moyenne nationale, la croissance des indices demeure respectable à Toronto (6,2 %), Halifax (5,3 %), Montréal (5,0 %), Ottawa-Gatineau (3,7 %) et Winnipeg (3,0 %). Elle fut par contre minimale à Calgary (0,6 %) alors que l’indice a décliné à Edmonton (-0,3 %) et Québec ( 2,3 %).

Dans les 14 régions non couvertes par l’indice composite, les indices ont diminué dans sept d’entre elles sur une base mensuelle en février. Toutefois, toutes ont montré des progressions sur 12 mois, mais avec une forte dispersion, allant de 1,2 % à Sudbury (Ontario) à 23,9 % à Abbotsford-Mission (C. B.).

*Note méthodologique : Les données du mois courant qui servent à calculer l’indice représentent les ventes finalisées et portées au registre foncier. Les indices des 11 régions métropolitaines compris dans l’indice composite de prix de maison Teranet – Banque NationaleMC représentent la tendance des prix, car l’indice publié est lissé, car il résulte d’une moyenne des indices bruts des trois derniers mois. Ce procédé permet d’adoucir les fluctuations mensuelles. Des données mensuelles plus granulaires sont disponibles sur demande. Leur obtention peut être sujette à des frais d’abonnement. Pour en savoir plus sur la méthodologie, veuillez vous rendre sur le site www.housepriceindex.ca.
Metropolitan area Index Level % change m/m % change y/y From peak Peak date
Report By:

Marc Pinsonneault
Économiste principal
Groupe économie et stratégie
Banque Nationale du Canada

The Teranet-National Bank House Price Index™ thanks the author for his special collaboration on this report.

The historical data of the Teranet-National Bank House Price Index™ is available™ at www.housepriceindex.ca.

The Teranet-National Bank House Price Index™ is estimated by tracking observed or registered home prices over time using data collected from public land registries. All dwellings that have been sold at least twice are considered in the calculation of the index. This is known as the repeat sales method; for a complete description of the methodology, contact us.

The Teranet-National Bank House Price Index™ is an independently developed representation of average home price changes in eleven metropolitan areas: Victoria, Vancouver, Calgary, Edmonton, Winnipeg, Hamilton, Toronto, Ottawa-Gatineau, Montreal, Quebec City, Halifax. The national composite 11 index is the weighted average of the eleven metropolitan areas.

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The Teranet-National Bank House Price Index™ is an independently developed representation of the rate of change of Canadian single-family home prices.  The measurements are based on the property records of public land registries. The monthly indices cover eleven Canadian metropolitan areas: Victoria, Vancouver, Calgary, Edmonton, Winnipeg, Hamilton, Toronto, Ottawa-Gatineau, Montréal, Québec City, Halifax. The metropolitan areas are combined to form a Canadian composite index.

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For further information about upcoming reports, please contact:

Derek Tinney
Director, Product
Teranet Inc.
Phone: 604-751-2252
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Michael Pertsis
Director, Mortgage Derivatives
National Bank Financial
Phone: 416-869-7124
Email: