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September 12, 2014TERANET-NATIONAL BANK HOUSE PRICE INDEX, AUGUST 2014 In July 2014, house prices in Halifax increased by 0.5 percent compared to July, and were up by 0.9 percent compared to August 2013. The House Price Index in Halifax is 142.040 this month.
Compared to July 2014, the 6 City (Ottawa, Toronto, Calgary, Vancouver, Montreal and Halifax) and the 11-City (Ottawa, Toronto, Hamilton, Calgary, Edmonton, Vancouver, Victoria, Winnipeg, Montreal, Quebec City and Halifax) Composite Indexes were both up 0.8 percent, month over month.
Year-over-year, the 6-City Composite Index was up 5.3 percent and the 11-City Composite Index was up by 5.0 percent. The largest year-over-year growth in house prices was recorded in Calgary (7.92%) and Hamilton and Toronto (both 6.7%). There was year over year house price deflation in Quebec City.
On a year-to-date basis, home prices in 4 of the 11 cities tracked in the index are still below average prices from a year ago. House prices in Halifax are 2.3 percent lower, followed by Quebec City (-1.4%), Ottawa (-0.6%) and Victoria (-0.4%) in the first eightmonths of 2014. These cities are showing some growth, however, and are closing the gap on year to date average prices. The Composite 6 showed a 5.2% increase and the Composite 11 showed a 4.8% increase.
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