Post Category: News and Economic Reports
June 17, 2022
Worst decline for housing affordability in a generation

Housing affordability in Canada worsened by 4.9 points in Q1’22, marking a fifth consecutive quarterly deterioration. The first quarter of 2022 was also the worst quarterly deterioration in over 27 years. Over the last 12 months, the worsening in affordability was the nastiest  in 40 years. For the first time since 1994, it would make […]

Post Category: Monthly Reports
June 17, 2022
Teranet-National Bank House Price Index increased 18.3% in May

YEAR-OVER-YEAR The Teranet–National Bank National Composite House Price IndexTM, covering eleven CMAs around the country, recorded an annual gain of 18.3% in May, less than the record 18.8% increase recorded the previous month. Gains were seen in all eleven cities in the composite index in May, with Halifax, Hamilton and Victoria recording the largest year-over-year […]

Post Category: News and Economic Reports
June 17, 2022
Prices to fall in the coming months

Despite the monthly increase, annual growth in the composite index fell from its peak of 18.8% in April to 18.3% in May. This deceleration comes as the housing market is experiencing a sharp slowdown due to rising interest rates and deteriorating affordability in recent months. Indeed, there is now a significant gap between the increase […]

Post Category: Monthly Reports
May 18, 2022
Teranet-National Bank House Price Index reports a record 18.8% annual home price increase in April 

YEAR-OVER-YEAR The Teranet–National Bank National Composite House Price IndexTM, covering eleven CMAs around the country, reported a 18.8% annual gain in April, breaking the record growth of 18.4% observed the previous month and in August 2021. Halifax, Hamilton, and Victoria reported the highest year-over-year gains among the 11 CMAs in April. Halifax led the way […]

Post Category: News and Economic Reports
May 18, 2022
Teranet-National Bank House Price Index: Record annual price growth in April

After tying the annual growth record last month, the year-over-year price increase reached a new high of 18.8% in April.  This new record is peculiar, as only Halifax, which is included in the Composite 11 index, also experienced record annual growth this month. This new high is therefore the result of robust growth in all […]

Post Category: Monthly Reports
April 20, 2022
Teranet-National Bank House Price Index reports 18.4% annual home price increase in March

YEAR-OVER-YEAR The Teranet–National Bank National Composite House Price IndexTM, covering eleven CMAs around the country, reported a 18.4% annual gain in March, matching the record growth seen in August 2021. Halifax, Hamilton, and Victoria reported the highest year-over-year gains among the 11 CMAs in February. Halifax, Hamilton, Victoria and Toronto recorded the largest year-over-year increases […]

Post Category: News and Economic Reports
April 20, 2022
Home prices up 31.2% in two years of pandemic and still rising

Since the beginning of the pandemic two years ago, household preferences for housing have changed dramatically, pushing demand up and the supply of properties for sale to a historic low. As a result, the Teranet-National Bank HPI jumped by 31.2% between March 2020 and March 2022 and by 18.4% in one year, a record! Vertiginous […]

Post Category: Monthly Reports
March 17, 2022
Teranet-National Bank House Price Index reports 17.7% annual home price increase in February

YEAR-OVER-YEAR The Teranet–National Bank National Composite House Price IndexTM, covering eleven CMAs around the country, reported a 17.7% annual gain in February, up from the 16.6% the previous month. Halifax, Hamilton, and Victoria reported the highest year-over-year gains among the 11 CMAs in February. Halifax led the way with 32.5% year-over-year price increase, followed by […]

Post Category: News and Economic Reports
March 17, 2022
Teranet-National Bank House Price Index – Home prices rise for a 20th consecutive month in February

Home prices in 2022 continue to come in strong as the Teranet-National BankTM HPI saw a seasonally adjusted monthly growth of 1.7% between January and February. This monthly increase now marks twenty consecutive months of rising housing prices. The recent momentum in home price growth was robust. Indeed, looking on a 3-month annualized basis, home […]

Post Category: News and Economic Reports
February 28, 2022
Housing affordability deteriorated in every quarter of 2021

Housing affordability in Canada worsened by 2.1 points in Q4’21, marking a fourth consecutive quarterly deterioration. Over the past year, affordability has worsened at the fastest pace in more than 26 years. As a result, it would take 48.6% of income for a representative household to service the mortgage on a representative home in Canada. […]