Home prices up 0.4% in January states Teranet House Price Index

Canadian home prices in January were up 0.4% from the previous month, according to the Teranet-National Bank National Composite House Price Index™. It was the second consecutive monthly rise, following on three consecutive monthly declines. January prices were up from the previous month in four of the six metropolitan markets surveyed: 0.9% in Vancouver, 0.5% in Toronto, 0.4% in Halifax and 0.3% in Montreal. Prices were down 0.6% in Ottawa, a fifth straight monthly decline, and 1.0% in Calgary, a fifth decline in six months. Thus the correction of late last year turned out to be short-lived for the country as a whole - three months - and longer-lasting in Ottawa and Calgary. For the entire article click the link above.

Third consecutive monthly price decline in November states Teranet-National Bank Composite Price Index

Canadian home prices in November were down 0.2% from the previous month, according to the Teranet-National Bank National Composite House Price Index™. This retreat followed monthly declines of 0.4% in October and 1.1% in September after a run of 16 consecutive increases. November prices were down from the previous month in four of the six metropolitan markets surveyed. Declines of 0.9% in Ottawa and 0.5% in Toronto were each the third in a row. The Calgary decline of 0.7% was the fourth in a row. Halifax prices were down 0.8%. Montreal prices were again flat from the month before. Prices in Vancouver were up 0.6%. After three consecutive months of decline in the composite index, Canadian home prices are still 4.8% above the pre-recession peak of August 2008.
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Further deceleration of home-price rises in February: Teranet – National Bank National Composite House Price Index™

Canadian home prices in February were up 9.9% from a year earlier, according to the Teranet-National Bank National Composite House Price Index™. This acceleration from 12-month rises of 7.5% in January and 5.2% in December is attributable to the deflation that was in progress 12 months earlier. This base effect will continue through the results for April, the anniversary of the index bottom. The composite index has been on the rise since then and is now up 11.7% from the bottom. However, this gain is strongly influenced by Toronto, up 16.2% from April 2009, and Vancouver, up 14.1% from May 2009. In the four other markets surveyed, the rise from the respective troughs is less than 9%.


Month-over-month gains have recently decelerated considerably. The 0.2% February rise in the composite index was the smallest in the 10 months since it began climbing. In two of the six markets surveyed, prices were down from the month before.

The historical data of the Teranet – National Bank House Price Index™ is available at http://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 http://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 and Strategy Group

National Bank Financial Group

The Composite Index Above The Pre-recession Peak

Teranet House Price Index
Canadian home prices in December were up 5.2% from a year earlier, double the 12-month advance recorded in November, according to the Teranet-National Bank National Composite House Price Index™. December was the third consecutive month in which prices were up from a year earlier, after 10 consecutive months of 12-month deflation. The turnaround is due to eight straight monthly increases in the countrywide index. December's robust 1.2% monthly gain pushed the composite index above the pre-recession peak, that is, to a new record.
Check out the details on the following link:
http://www.housepriceindex.ca/

Teranet Data Proves Toronto Property Has Been Great Investment

Teranet data shows Toronto residential real estate investment up over 18% since mid 2005. Wow! Great Investment!
http://www.torontorealestateboard.com/consumer_info/market_news/news2010/pdf/nr_mid_month_0110.pdf