|The July composite index was up 0.7% from June. Though this increase may seem substantial, it is somewhat below the seasonal norm. Over the last 12 years, the average July gain has been 1.0%. (May, June and July are generally the months in which upward pressure on home prices is strongest. In 15 years of index data collection, the composite index has not declined in any of these three months.) In July of this year, prices were up from the month before in nine of the 11 markets surveyed. The increase exceeded the national average in four markets: Victoria (2.6%), Hamilton (1.8%), Toronto (1.3%) and Edmonton (0.8%). It lagged the average in Calgary (0.5%) and in Vancouver, Ottawa-Gatineau and Quebec City (0.3%). In Montreal prices were flat from the month before. In Winnipeg (−0.4%) and Halifax (−0.6%), prices were down on the month.|
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.