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. […]

Post Category: News and Economic Reports
February 17, 2022
Teranet-National Bank House Price Index: Price growth does not ease in January

The year 2022 is off to a strong start as the Teranet-National BankTM HPI saw a seasonally adjusted monthly growth of 1.7% between December and January. This now makes three consecutive months of stronger price increases than the previous month. This larger price increase coincides with renewed robust demand in the resale market. Indeed, with […]

Post Category: Monthly Reports
February 17, 2022
Teranet-National Bank House Price Index reports 16.6% annual home price increase in January

YEAR-OVER-YEAR The Teranet–National Bank National Composite House Price IndexTM, covering eleven CMAs around the country, reported a 16.6% annual gain in January, up from the 15.5% the previous month. Halifax, Hamilton, and Victoria reported the highest year-over-year gains among the 11 CMAs in January. Halifax led the way with 31.7% year-over-year price increase, followed by […]

Post Category: News and Economic Reports
January 19, 2022
Record growth in house prices in 2021

The Teranet-National Bank HPITM has seen record growth in 2021. Canadian house prices rose 15.5% year-over-year, breaking the previous peak reached in 2016, before macroprudential measures were imposed to calm the housing market. Price growth reached an all-time high in four of the eleven cities in the index: Halifax, Hamilton, Montreal and Victoria. Although record […]

Post Category: Monthly Reports
January 19, 2022
Home price growth strengthens in December

In December, the Teranet–National Bank National Composite House Price IndexTM increased by 0.8% compared to the previous month, the second consecutive monthly increase. The December index was led by eight of the eleven constituent markets: Victoria (2.1%), Halifax (1.9%), Hamilton (1.2%), Montréal (1.1%), Québec (1.1%), Vancouver (1.0%), Toronto (0.9%) and Calgary (0.3%). Price decreases were […]

Post Category: News and Economic Reports
December 17, 2021
Home price growth picks up in November

Home prices rose by 0.5% in the major urban markets after seasonal adjustments in November, a stronger increase than what we observed in the two previous months. It should be noted that from June to October, price growth moderated coincidentally with a diminishing activity in the resale market. However, over the past three months, sales […]

Post Category: Monthly Reports
December 17, 2021
Home price growth resumed in November

In November, the Teranet–National Bank National Composite House Price IndexTM increased by 0.4% compared to the previous month, after remaining unchanged in October. The November index was led by seven of the eleven constituent markets: Halifax (1.2%), Victoria (1.0%), Toronto (0.8%), Hamilton (0.6%), Vancouver (0.4%), Quebec City (0.3%) and Calgary (0.1%). Prices remained stable in […]

Post Category: Monthly Reports
November 17, 2021
Home price growth paused in October

In October, the Teranet–National Bank National Composite House Price IndexTM remained unchanged from the previous month. This makes five consecutive months where the monthly price increase is lower than the previous month. The October index was led by seven of the 11 constituent markets: Hamilton (0.9%), Victoria (0.7%), Halifax (0.5%), Edmonton (0.3%), Calgary (0.2%), Quebec […]

Post Category: News and Economic Reports
November 17, 2021
Home price growth on hold in October

The Teranet-National Bank HPI remained essentially stable between September and October after a small increase of 0.1% the previous month. Does this mean that housing prices have entered a dry spell in Canada? Not so fast. It is quite typical to observe a lull in September and October after the summer strength. In fact, the […]

Post Category: News and Economic Reports
October 20, 2021
Price growth on pause in September

It has been a few months now that sales in the Canadian residential market have been decreasing. This slowdown is beginning to have an impact on price growth, with the Teranet-National Bank HPI remaining relatively stable between August and September with a slight increase of 0.1%, the smallest monthly increase since January 2020. For its […]