Showing posts with label montreal. Show all posts
Showing posts with label montreal. Show all posts

Friday, March 14, 2014

Teranet HPI - February 2014

HOME PRICES UP 0.3% IN FEBRUARY

In February the Teranet-National Bank National Composite House Price Index™ was up 0.3% from January. For the second month in a row, prices for Canada as a whole rose to an all-time high, though new records were set in only two of the 11 metropolitan markets surveyed - Vancouver (for a fourth straight month) and Calgary (for the first time since September 2007). Since in February 2013 the index was down 0.2% from the month before, the increase of February 2014 resulted in an acceleration of 12 month home price inflation to 5.0% from 4.5%. The gain from a year earlier was well above the cross-country average in two of the 11 markets, Calgary (9.6%) and Vancouver (7.7%). It was slightly above the average in Toronto (6.1%) and Edmonton (5.3%), equal to the average in Hamilton (5.0%) and below it in Winnipeg (3.5%) and Montreal (1.9%). In Halifax (−4.7%) and Ottawa-Gatineau (−0.6%), prices were down from a year earlier for a second consecutive month. In Victoria (−3.4%), home prices have been down from a year earlier for 12 months now. Quebec City posted its first 12 month deflation in 15 years (−2.0%). It is the first time since October 2009 that there is price deflation in at leat four of the regions covered.

Teranet – National Bank National Composite House Price Index™

Contact Us

For general enquiries:

info@housepriceindex.ca

For licenses covering all index-linked products, please contact:

Simon Côté
514 879-5379
In February the east-west dichotomy became more pronounced than ever. Home prices were up from the month before in all five markets of Western Canada - Calgary (1.1%), Vancouver and Victoria (0.9%), Edmonton (0.6%) and Winnipeg (0.5%). The rise in Victoria ended a run of four consecutive monthly declines. For Vancouver it was the 10th consecutive monthly increase. In the six markets of central and eastern Canada, the only monthly rise was in Montreal (0.7%), the second advance after six months of flat or declining prices. Prices were down 0.1% in Toronto, making February the fourth month without a gain in the last six. For Ottawa-Gatineau (−0.8%) it was the sixth decline in a row, for Quebec City (−1.7%) the sixth in seven months. For Halifax (−1.7%) it was the third decline in a row.

Teranet – National Bank House Price Index™



The historical data of the Teranet – National Bank House Price Index™ is available at www.housepriceindex.ca.
Metropolitan areaIndex level
February
% change m/m% change y/y
Calgary174.341.1 %9.6 %
Edmonton173.180.6 %5.4 %
Halifax135.69-1.7 %-4.7 %
Hamilton145.97-0.5 %5.0 %
Montreal149.970.7 %1.9 %
Ottawa139.29-0.8 %-0.6 %
Quebec173.53-1.7 %-2.0 %
Toronto154.67-0.1 %6.1 %
Vancouver178.470.9 %7.7 %
Victoria134.700.9 %-3.4 %
Winnipeg194.840.5 %3.5 %
National Composite 6159.990.3 %5.6 %
National Composite 11160.410.3 %5.0 %
The Teranet–National Bank House Price Index™ is estimated by tracking observed or registered home prices over time using data collected from public land registries. All dwellings that have been sold at least twice are considered in the calculation of the index. This is known as the repeat sales method; a complete description of the method is given atwww.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.
By:
Marc Pinsonneault
Senior Economist
Economy & Strategy Group
National Bank of Canada
Teranet - National Bank House Price Index™ thanks the author for their special collaboration on this report.

Monday, February 17, 2014

Teranet House Price Index - February 2014

HOME PRICES UP 0.4% IN JANUARY

In January the Teranet-National Bank National Composite House Price Index™ was up 0.4% from December. This advance took the composite index to an all-time high, though individual indexes reached all-time highs for only two of the 11 metropolitan markets surveyed, Toronto and Vancouver. Since in January 2013 the index was down from the month before, the increase of January 2014 resulted in an acceleration of 12 month home price inflation to 4.5% in January from 3.8% in December. The gain from a year earlier exceeded the cross-country average in four of the 11 markets: Vancouver (7.5%), Calgary (7.1%), Toronto (5.8%) and Hamilton (5.1%). It was close to the average in Edmonton (4.4%) and Winnipeg (3.9%). It was minimal in Montreal (0.8%) and Quebec City (0.6%). Prices were down from a year earlier in Victoria (−5.7%), Halifax (−2.9%) and Ottawa-Gatineau (−0.6%). The 12-month decline was a first for Ottawa-Gatineau, the 11th straight for Victoria and the fourth in six months for Halifax.

Teranet – National Bank National Composite House Price Index™

Contact Us

For general enquiries:

info@housepriceindex.ca

For licenses covering all index-linked products, please contact:

Simon Côté
514 879-5379
The 0.4% advance of the composite index from December to January was the largest monthly rise in five months. Over this period, it is also the first time that a majority of the markets surveyed showed prices up from the month before. Vancouver (+1.1%), Toronto (+0.5%) and Quebec City (+0.5%) led the composite index. Calgary equalled it. Hamilton prices were up 0.3%, Winnipeg and Montreal prices 0.2%. Edmonton was flat on the month. Prices fell 0.3% in Victoria, 1.1% in Ottawa-Gatineau and 1.7% in Halifax. The January rises in Montreal and Quebec City interrupted runs of five consecutive monthly declines. For Ottawa-Gatineau it was the fifth straight monthly decline, for Victoria the fourth and for Halifax the second. For Vancouver it was a ninth straight monthly rise, for the composite index the 10th in 11 months.

Teranet – National Bank House Price Index™



The historical data of the Teranet – National Bank House Price Index™ is available at www.housepriceindex.ca.
Metropolitan areaIndex level
January
% change m/m% change y/y
Calgary172.420.4 %7.1 %
Edmonton172.330.0 %4.4 %
Halifax138.06-1.7 %-2.9 %
Hamilton146.630.3 %5.1 %
Montreal148.980.2 %0.8 %
Ottawa140.42-1.1 %-0.6 %
Quebec176.520.5 %0.6 %
Toronto154.800.5 %5.8 %
Vancouver176.941.1 %7.5 %
Victoria133.48-0.3 %-5.7 %
Winnipeg193.960.2 %3.9 %
National Composite 6159.450.5 %5.0 %
National Composite 11159.930.4 %4.5 %
The Teranet–National Bank House Price Index™ is estimated by tracking observed or registered home prices over time using data collected from public land registries. All dwellings that have been sold at least twice are considered in the calculation of the index. This is known as the repeat sales method; a complete description of the method is given atwww.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.

Wednesday, December 19, 2012

Teranet House Price Index for December 2012

DECEMBER 2012

NOVEMBER HOME PRICES UP 3.3% IN 12 MONTHS

The Teranet-National Bank National Composite House Price Index™ for November was up 3.3% from a year earlier, for a 12th consecutive month of deceleration in 12-month inflation. Up through September this cross-country trend was replicated in the Vancouver market, but this is no longer the case. In Montreal 12-month inflation has decelerated in 11 of the last 12 months, in Toronto in each of the last seven months, in Winnipeg in each of the last five months, in Ottawa-Gatineau in eight of the last 10 months. The 12-month price change continues to vary widely by market. In November the 12-month gain exceeded the national average by a wide margin in five metropolitan areas: Halifax (7.3%), Hamilton (7.2%), Toronto (6.3%), Calgary (5.7%) and Winnipeg (5.2%). It lagged the average in four markets: Montreal (2.8%), Quebec City (2.7%), Ottawa-Gatineau (2.2%) and Edmonton (1.6%). Prices were down from a year earlier in Vancouver (−1.4%) and Victoria (−1.7%).

Teranet – National Bank National Composite House Price Index™

Contact Us

For general enquiries:

info@housepriceindex.ca

For licenses covering all index-linked products, please contact:

Simon Côté
 514 879-5379
The composite index was down 0.4% from October. It was the fourth November monthly decline in 13 years of data, including November 2008 when the country was on the verge of recession. For the first time since February 2009, when the recession was in full swing, prices were down from the month before in 10 of the 11 metropolitan markets surveyed. For Quebec City (−0.1%) and Victoria (−0.9%) it was the fourth straight monthly decline. For Montreal (−0.4%) and Ottawa-Gatineau (−0.5%) it was the third, for Toronto (-0.3%) and Halifax (−0.9%) the second. Prices were also down in Vancouver (-0.6%), Edmonton (−0.9%), Hamilton (-0.3%) and Winnipeg (-0.7%). Only in Calgary were prices up from the month before (0.4%). The Winnipeg and Hamilton markets nevertheless rate as tight by the criterion of seasonally adjusted new listings to sales as published by the Canadian Real Estate Association.

Teranet – National Bank House Price Index™



The historical data of the Teranet – National Bank House Price Index™ is available at www.housepriceindex.ca.
Metropolitan areaIndex level
November
% change m/m% change y/y
Calgary162.610.4 %5.7 %
Edmonton166.28-0.9 %1.6 %
Halifax140.92-0.9 %7.3 %
Hamilton139.75-0.3 %7.2 %
Montreal148.45-0.4 %2.8 %
Ottawa140.75-0.5 %2.2 %
Quebec170.14-0.1 %2.7 %
Toronto147.33-0.3 %6.3 %
Vancouver167.51-0.6 %-1.4 %
Victoria138.20-0.9 %-1.7 %
Winnipeg188.60-0.7 %5.2 %
National Composite 6153.17-0.3 %3.3 %
National Composite 11154.02-0.4 %3.4 %
The Teranet–National Bank House Price Index™ is estimated by tracking observed or registered home prices over time using data collected from public land registries. All dwellings that have been sold at least twice are considered in the calculation of the index. This is known as the repeat sales method; a complete description of the method is given 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.
By:
Marc Pinsonneault
Senior Economist
Economy & Strategy Group
National Bank
Teranet - National Bank House Price Index™ thanks the author for their special collaboration on this report. 

Sunday, September 02, 2012

July 2012 Teranet House Price Index

OME PRICES IN JULY UP 4.8% FROM A YEAR EARLIER

Monthly changes in the Teranet-National Bank National Composite House Price Index™ tend to be greater in May and June of each year. True to form, this year's July increase was 0.7% after monthly rises of more than 1% in both May and June. The July gain, the fifth in a row, nevertheless took the index to a new high for a third consecutive month. The composite gain was exceeded in four of the 11 metropolitan markets surveyed: prices were up 2.0% in Hamilton, Quebec City and Victoria and 1.6% in Toronto. The other seven markets lagged the composite: rises of 0.6% in Ottawa-Gatineau, 0.4% in Edmonton and Montreal, 0.3% in Winnipeg, 0.2% in Calgary and 0.1% in Halifax, with a decline of 0.5% in Vancouver. The Vancouver retreat, the first in five months, ended a run of two months in which prices had not fallen in any of the 11 markets. Halifax has had the longest run of monthly increases, nine, followed closely by Toronto and Montreal with eight each.

Teranet – National Bank National Composite House Price Index™


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.
Metropolitan areaIndex level
July
% change m/m% change y/y
Calgary160.680.2 %1.1 %
Edmonton167.400.4 %2.5 %
Halifax140.920.1 %5.4 %
Hamilton136.412.0 %5.9 %
Montreal150.190.4 %4.3 %
Ottawa141.950.6 %3.4 %
Quebec173.162.0 %4.2 %
Toronto147.321.6 %9.2 %
Vancouver172.44-0.5 %1.6 %
Victoria143.152.0 %-0.4 %
Winnipeg188.400.3 %7.4 %
National Composite 6154.500.6 %5.1 %
National Composite 11155.280.7 %4.8 %
The Teranet–National Bank House Price Index™ is estimated by tracking observed or registered home prices over time using data collected from public land registries. All dwellings that have been sold at least twice are considered in the calculation of the index. This is known as the repeat sales method; a complete description of the method is given 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.
By:
Marc Pinsonneault
Senior Economist
Economy & Strategy Group
National Bank of Canada
Teranet - National Bank House Price Index™ thanks the author for their special collaboration on this report.
1 Value of Dwelling for the Owner-occupied Non-farm, Non-reserve Private Dwellings of Canada.