Post Category: News and Economic Reports
January 13, 2016
Economic News – Canada: House prices up 6.2% in 2015, with quite a regional contrast

OPINION: For Canada as a whole, 2015 saw the largest house price increase in four years (top chart), but only four regional markets were the drivers of that performance. At the other end of the spectrum, the collapse in oil prices has translated into house price deflation in Calgary and Edmonton, with the remaining five markets showing little price growth if not declines (middle chart). Even in Vancouver and Toronto, there was a dichotomy in the market, with condos prices up roughly 6% in 2015, while prices for other types of dwellings surged 15.8% in Vancouver and 10.9% in Toronto (bottom chart). Some believe that the story in Vancouver and Toronto is all about speculation and demand from foreigners, and nothing is fundamental. Data tell a different story. Indeed, fundamentals are playing a role, judging from job growth over the last 12 months of no less than 4.9% in Toronto and 4.0% in Vancouver. Looking ahead, deteriorating economic conditions in Canada should translate in softer job creation in the hot markets, while weak resale markets should persist elsewhere. Under these circumstances, we expect a significant deceleration in the national house price index growth rate in 2016.

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Post Category: Monthly Reports
December 14, 2015
Home Prices Up 0.2% In November

In November, the Teranet–National Bank National Composite House Price Index™ was up 0.2% from the previous month, an 11th consecutive monthly increase. This rise, slightly above the average for a month of November (0.1%), was due entirely to strong gains in Vancouver (1.3%) and Victoria (1.8%). For Vancouver it was an 11th consecutive month without […]

Post Category: Monthly Reports
November 12, 2015
Home Prices Up 0.1% In October

In October, the Teranet–National Bank National Composite House Price Index™ was up 0.1% from the previous month, a 10th consecutive monthly increase. This rise was about average for a month of October. Prices were up on the month in only five of the 11 metropolitan markets surveyed – 1.9% in Winnipeg, 0.6% in Vancouver, 0.3% […]

Post Category: Monthly Reports
October 15, 2015
Home Prices Up 0.6% in September

In September, the Teranet–National Bank National Composite House Price IndexTM was up 0.6% from the previous month, a ninth consecutive monthly increase. This rise was well above the 17-year September average of 0.2%. However, prices were up on the month in only six of the 11 metropolitan markets surveyed – 1.9% in Halifax, 1.6% in […]

Post Category: Monthly Reports
September 14, 2015
Home Prices Up 1.0% In August

In August, the Teranet–National Bank National Composite House Price Index™ was up 1.0% from the previous month, an eighth consecutive monthly increase. The rise exceeded the 11-year August average of 0.9%. Prices were up on the month in six of the 11 metropolitan markets surveyed – 3.9% in Calgary, 2.4% in Hamilton, 1.6% in Toronto, […]

Post Category: Monthly Reports
August 12, 2015
Home Prices Up 1.2% In July

In July, the Teranet–National Bank National Composite House Price Index™ was up 1.2% from the previous month, a seventh consecutive monthly increase. The rise exceeded the 14-year July average of 1.0%. Prices were up on the month in six of the 11 metropolitan markets surveyed – 2.7% in Hamilton, 2.4% in Toronto, 2.3% in Ottawa-Gatineau, […]

Post Category: Monthly Reports
July 14, 2015
Home Prices Up 1.4% In June

In June, the Teranet–National Bank National Composite House Price Index™ was up 1.4% from the previous month, a sixth consecutive monthly increase. The rise was slightly above the June average of 1.3% over the last 10 years. Prices were up on the month in seven of the 11 metropolitan markets surveyed – 2.6% in Victoria, […]

Post Category: Monthly Reports
June 12, 2015
Home Prices Up 0.9% In May

In May the Teranet–National Bank National Composite House Price Index™ was up 0.9% from the previous month, a fifth consecutive monthly increase. The 0.9% rise was slightly below the May average of 1.1% over the last 14 years. This was because Calgary prices fell 3.3% from April, the largest monthly drop recorded for that region, […]

Post Category: Monthly Reports
May 13, 2015
Home Prices Up 0.2% In April

In April the Teranet–National Bank National Composite House Price Index™ was up 0.2% from the previous month, a fourth consecutive monthly increase. Excluding the recession year 2009, the monthly change is tied with that of April 2013 for the smallest April advance in 17 years of index data. The slightness of the gain in 2015 […]

Post Category: Monthly Reports
April 14, 2015
Home Prices Up 0.3% In March

In March the Teranet–National Bank National Composite House Price Index™ was up 0.3% from the previous month, a third consecutive monthly increase, equal to the average March rise since 2010. Prices were up in eight of the 11 metropolitan markets surveyed, the broadest diffusion in seven months. The composite index is now at an all-time […]