|Since monthly changes are subject to seasonal factors, the 12-month change is revealing. In July the composite index was up 4.8% from a year earlier, an eighth consecutive month of deceleration in 12-month inflation. Since prices rose 1.0% from July to August last year, further deceleration is possible in August 2012. However, the only market in which 12-month inflation has followed the national composite in decelerating for eight straight months is Vancouver. In Montreal inflation has decelerated in seven of the last eight months. Four of the 11 markets show 12-month inflation exceeding the national average: Toronto 9.2%, Winnipeg 7.4%, Hamilton 5.9% and Halifax 5.4%. The 12-month gain was 4.3% in Montreal, 4.2% in Quebec City, 3.4% in Ottawa-Gatineau, 2.5% in Edmonton, 1.6% in Vancouver and 1.1% in Calgary. Despite Victoria's sharply monthly rise, its prices were down 0.4% from a year earlier.|
Teranet – National Bank House Price Index™
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 an independently developed representation of average home price changes in six metropolitan areas: Ottawa, Toronto, Calgary, Vancouver, Montreal and Halifax. The national composite index is the weighted average of the six metropolitan areas. The weights are based on aggregate value of dwellings as retrieved from the 2006 Statistics Canada Census. According to that census1, the aggregate value of occupied dwellings in the metropolitan areas covered by the indices was $1.168 trillion, or 53% of the Canadian aggregate value of $2.207 trillion.
All indices have a base value of 100 in June 2005. For example, an index value of 130 means that home prices have increased 30% since June 2005.
1 Value of Dwelling for the Owner-occupied Non-farm, Non-reserve Private Dwellings of Canada.