For the first time in nine months, none of the six metropolitan markets surveyed showed a monthly increase of as much as 1%. The rise was 0.9% in Vancouver, 0.7% in Toronto, 0.6% in Halifax, 0.4% in Montreal and 0.3% in Ottawa. In Calgary prices declined 0.5%. Prices are now down 9.7% from the previous peak in Calgary and 0.2% in Vancouver. The other four markets passed their pre-recession peaks between May and October last year.
The index is now up 9.0% from its April 2009 bottom. This steep rise has been led by Vancouver (up 11.7% from May 2009) and Toronto (11.0% from April 2009). In other markets the increases have been more modest: Calgary 6.7% since June, Ottawa 6.5% since last April, Montreal 3.6% since February 2009, Halifax 1.5% since February 2009.
The 12-month appreciation was 9.4% in Toronto, 8.9% in Vancouver, 8.1% in Ottawa, 5.3% in Montreal, 4.6% in Halifax and 1.9% in Calgary.
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 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
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.
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