|The composite index was down 0.2% from September. It was the third October monthly decline in 13 years of data, including 2008 when the country was on the verge of recession. Prices were down from the month before in seven of the 11 metropolitan markets surveyed. For Quebec City (−0.9%) and Victoria (−0.6%) it was a third straight monthly decline. Toronto was also down 0.6% on the month. For Ottawa-Gatineau (−0.4%) and Montreal (−0.3%) it was a second consecutive monthly drop. Prices were also down in Calgary (−0.2%) and Halifax (−0.1%) and flat in Winnipeg, even if the resale markets in these three regions are considered tight. Prices were up 0.1% in Vancouver, 0.3% in Edmonton and 0.4% in Hamilton.|
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.