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Barbara Ruszel Economist
Tel: 902-424-1848Email: Basia.Ruszel-Lichodzijewska@novascotia.ca

January 12, 2018
TERANET-NATIONAL BANK HOUSE PRICE INDEX, DECEMBER AND ANNUAL 2017

Halifax home prices as measured by the Teranet-National Bank House Price were up 1.9 per cent in December compared with the November result. The Halifax price level was 3.6 per cent above the same month in 2016.  The national year-over-year price gain slowed to 9.1 per cent in December.

                                                                                                                                           

National resale home prices measured by the Teranet-National Bank House Price Index were up just 0.2 per cent in December, with faster gains in Winnipeg, Halifax and Vancouver.  Several cities reported lower prices in December, including Quebec City, Montreal, Toronto, Hamilton, Calgary and Victoria.

Despite the relatively slow monthly growth in December, resale home prices are up 9.1 per cent for the 11-city composite of the Teranet-National Bank House Price Index.  The strongest gains are still reported in Ontario and British Columbia, but year-over-year price gains are up in Montreal, Ottawa, Winnipeg and Halifax as well.  

On an annual average basis, resale home prices were up 2.2 per cent in the Halifax market comparing 2017 with 2016 in the Teranet-National Bank House Price Index.  The 11-city composite average was up 12.3 per cent in 2017 on very strong gains in Ontario and British Columbia markets.  

 

The 2017 annual average house price growth in Halifax was the strongest reported since 2012.  In recent years, there has been a marked difference between home price growth among different cities.  In Toronto/Hamilton and Vancouver/Victoria, house price growth far outpaced growth in other markets across the country, though the pace of growth in Vancouver abated in 2017 while growth has accelerated in other centres (Ottawa, Montreal, Calgary, Winnipeg).

 

 

Source: Teranet National-Bank

 

 

 

 



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