|The composite index was down 0.4% from November, the fourth consecutive monthly decline, a first out of a recession, and the fourth December monthly decline in 13 years of data, including December 2008 when the country was in recession. Prices were down from the month before in eight of the 11 markets surveyed. For Montreal (−0.3%) and Ottawa-Gatineau (−0.1%) it was the fourth straight monthly decline. For Halifax (−0.7%), Winnipeg (-0.7%) and Toronto (−0.3%) it was the third. For Edmonton (−0.1%) it was the third in fourth months, for Vancouver (-1.0%) the fifth in six months, for Calgary (−0.9%) the second in three months. Prices were up 1.7% on the month in Quebec City, ending a run of four monthly declines, and 0.9% in Hamilton and Victoria. The monthly gain in Victoria followed four straight months of retreat.|
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.