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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

August 20, 2019
TERANET-NATIONAL BANK HOUSE PRICE INDEX, JULY 2019


In July, Halifax home prices as measured by the Teranet-National Bank House Price Index increased 1.6 per cent compared to the previous month. The Halifax price level was up 3.1 per cent compared to July 2018. 

Monthly resale home prices increased 0.7 per cent for the 11-city composite of the Teranet-National Bank House Price Index, after a 0.8 per cent increase in June.

Higher housing prices were reported in July for 10 of 11 cities, with the largest monthly increases in Winnipeg (2.9 per cent), Ottawa-Gatineau (2.0 per cent), Montreal (1.7 per cent) and Halifax (1.6 per cent). Vancouver (-1.0 per cent) reported the only monthly decline. 

National year-over-year price growth was 0.4 per cent in July. Home price inflation has slowed considerably from the pace observed in 2017, reaching its lowest level since October 2009.

Halifax year-over-year price growth increased to 3.1 per cent in July. Prices were up over July 2018 in 8 of the 11 metropolitan markets, with the largest increase in Ottawa-Gatineau (6.0 per cent). Price declines were reported for Vancouver (-6.2 per cent), Calgary (-3.1 per cent) and Edmonton (-2.8 per cent).

Year to date, Halifax home prices were up 2.1 per cent, while the National index increased 1.2 per cent over the same period in 2018. Prices were up in 8 of the 11 metropolitan markets, with the largest increase in Ottawa-Gatineau (6.0 per cent). Price declines have occurred in Calgary (-3.1 per cent), Vancouver (-3.1 per cent) and Edmonton (-1.5 per cent).

Source: Teranet National-Bank



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