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September 17, 2025TERANET-NATIONAL BANK HOUSE PRICE INDEX, AUGUST 2025 Monthly (August 2025 vs July 2025, seasonally adjusted)
Halifax resale home prices, as measured by the Teranet-National Bank House Price Index (seasonally adjusted), rose slightly by 0.33% from July to August.
The composite 11-city index of resale house prices increased by 0.36% - the first rise since December 2024. There were gains in 5 cities, led by Winnipeg. Montréal and Québec City reported the steepest declines.
Year-over-year (August 2025 vs August 2024)
Halifax resale home prices were up 2.4% year-over-year. Prices for the 11-city composite index were down 2.6% despite gains in eight of 11 urban centers. This was the fourth consecutive month of year-over-year declines. Prior to May 2025, the 11-city composite index hadn't reported a decline since August of 2023. Québec City reported the fastest pace of growth over August 2024 while the fastest decline was in Toronto.
Year-to-date (January-August 2025 vs January-August 2024)
Halifax home prices were up 5.2% in the first eight months of 2025 when compared with the same period in 2024. The 11-city index in resale home prices was virtually unchanged from the first 8 months of 2024. Every city in the index except Toronto, Hamilton and Vancouver reported gains in home prices, with Québec City reporting the largest increase.
Trends
After recording year-over-year house price declines for most of the first half of 2023, Halifax resale home prices returned to positive year-over-year growth throughout 2024 and 2025. In August 2025, the national index saw a fourth consecutive year-over-year decline. Year-over-year house price growth in Halifax has outpaced national gains in all but two months since returning to positive growth in 2023.
Winnipeg set a new high for resale house prices in August.
Source: Teranet-National Bank
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