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October 20, 2022TERANET-NATIONAL BANK HOUSE PRICE INDEX, SEPTEMBER 2022 
Halifax home prices, as measured by the Teranet-National Bank House Price Index (seasonally adjusted), increased 1.1% from August to September 2022. Home prices in Halifax were 16.6% higher when compared to September 2021. Halifax posted the largest year-over-year gain in resale home prices among the cities included in the national index.
The 11-city composite on the Teranet-National Bank House Price Index declined 2.0% in September 2022 compared to August 2022. Monthly home prices declined the most in Victoria while the only gains were reported in Calgary, Halifax, and Edmonton.
Nationally, resale home prices (seasonally adjusted) were up 6.1% from September 2021 to September 2022. Halifax (+16.6%) posted the 25th consecutive month of double-digit year-over-year gains and continued to lead the 11 cities index.
Following Halifax, the highest year-over-year gains were recorded in Calgary (+14.8%), Montreal (+10.8%) and Quebec City (+10.5%). The slowest gains were recorded in Vancouver (+4.0%) and Toronto (+4.5%).
Comparing the January-September 2022 period with the same period in 2021, Halifax home prices have averaged 27.1% higher - the highest gain among the urban areas.
Nationally, home prices were up 14.6% in January-September 2022. After Halifax, Hamilton (+21.1%) and Victoria (+17.9%) posted the highest gains while the smallest increase was in Edmonton (+3.4%).
Source: Teranet-National Bank
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