Post Category: News and Press Releases
July 31, 2017
Economic News | NBFM Housing Affordability Monitor – Q2 2017

Q2 2017: The least affordable market in 9 years

The worsening of affordability in Q2 was the eighth in a row, the longest run in almost 3 decades. As a result, our national composite is the least affordable since 2008 (top chart). Canadian households have been able to fall back for some time on the condo market which was more affordable on an historical basis. However, the deterioration in Q2 was more acute in this segment compared to other dwellings. As a result, even the condo market is now the least affordable in years (worst since 2011). Yet again this quarter, there is still a significant divergence across regions with no less than 6 markets showing an improvement of the situation in contrast with British Columbia and GTA cities that experienced further deteriorations (middle chart). The deterioration of affordability in Canada over the past two years appears to be negatively impacting consumer confidence. The latter is shown by the index related to “whether it’s a good time to make a major outlay such as a house” diverging substantially from the index grouping other questions of the survey (bottom chart). We note that despite labour markets being essentially at full-employment in Ontario and British Columbia, the percentage of respondents considering it a good time to make such an outlay is barely above Alberta’s level which is still coping with the pinch of the oil shock. The mortgage rate hike observed so far in the third quarter will certainly not alleviate this sentiment going forward.

Post Category: News and Press Releases
June 15, 2017
Looking to download the Composite 6 data?

As part of the ongoing evolution of the Teranet-National Bank House Price Index, the Composite 6 index (C6) will no longer be available for public download. The Composite 11 index (C11), which contains the same markets from the C6, as well as the additional markets of Victoria, Edmonton, Winnipeg, Hamilton and Quebec City continues to be publicly available for download. If you still wish to receive the C6 composite data, please contact us at info@housepriceindex.ca.

Post Category: News and Press Releases
June 13, 2017
The Teranet-National Bank House Price Index™ announces new data enhancements and website

Montréal, June 13, 2017 – Teranet and National Bank are pleased to announce the expansion of the Teranet – National Bank House Price IndexTM (“HPI”) by fifteen additional census metropolitan areas (CMA’s) in British Columbia, Ontario, and Newfoundland and Labrador. The new CMA indices will provide greater and more granular insights into house price changes across Canada.

Post Category: News and Press Releases
June 20, 2016
Home price gains cooling but still hit record

Canadian home prices rose to another record high in July but moderating gains provided more evidence that the real estate market is cooling, according to a national benchmark index.

For further information about upcoming reports, please contact:

Kan Zhu
Leader, Data & Advisory Solutions
Teranet Inc.
Phone: 416-360-8863 x 2270
Email:
Michael Pertsis
Director, Mortgage Derivatives
National Bank Financial
Phone: 416.869.7124
Email: