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For additional information relating to this article, please contact:

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

December 12, 2018
TERANET-NATIONAL BANK HOUSE PRICE INDEX, NOVEMBER 2018

In November, Halifax home prices as measured by the Teranet-National Bank House Price Index increased 0.1 per cent compared to the previous month. The Halifax price level was up 1.7 per cent over November 2017.

National year-over-year price growth was 3.1 per cent in November. National year over year price growth has slowed considerably since the time period June 2016 to September 2017 where price growth was over 10 per cent. Year over year growth has been below five per cent since May 2018.       

National resale home prices measured by the Teranet-National Bank House Price Index were down 0.3 per cent month-to-month, with all cities except Halifax, Quebec City, and Victoria reporting declines. 

Year-over-year, resale home prices are up 3.1 per cent for the 11-city composite of the Teranet-National Bank House Price Index, with 8 of the 11 cities reporting higher housing prices compared to one year ago.  The largest increases were reported in Victoria and Ottawa-Gatineau, while Calgary, Edmonton and Quebec City reported declines. 

Comparing the first 11 months of 2018 with the same period last year, resale home prices were up 4.1 per cent for the Halifax index and 4.2 per cent for the 11-city composite of the Teranet-National Bank House Price Index.  The strongest gains were reported in Vancouver and Victoria, followed by Ottawa-Gatineau and Montreal.

 Source: Teranet National-Bank



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