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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

September 19, 2019
TERANET-NATIONAL BANK HOUSE PRICE INDEX, AUGUST 2019

In August, Halifax home prices as measured by the Teranet-National Bank House Price Index increased 1.8 per cent compared to the previous month. The Halifax price level was up 5.5 per cent compared to August 2018. 

Monthly resale home prices increased 0.4 per cent for the 11-city composite of the Teranet-National Bank House Price Index after a 0.7 per cent increase in July. Higher housing prices were reported for 8 of 11 cities in August, with the largest monthly increases in Halifax (1.8 per cent) and Ottawa-Gatineau (1.7 per cent). Vancouver (-0.8 per cent), Quebec City (-0.4 per cent) and Edmonton (-0.1 per cent) reported lower prices compared to July. 

National year-over-year price growth was 0.6 per cent in August. Home price inflation has slowed considerably from the pace observed in 2017. Year-over-year price growth in Halifax has increased in each of the last four months.

Halifax year-over-year price growth increased to 5.5 per cent in August. Prices were up over August 2018 in 8 of the 11 metropolitan markets, with the largest increases in Ottawa-Gatineau (6.4 per cent), Montreal (5.7 per cent) and Halifax. Price declines were reported for Vancouver (-6.6 per cent), Edmonton (-3.1 per cent) and Calgary (-2.3 per cent).

Year to date, Halifax home prices were up 2.6 per cent, while the National index increased 1.1 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 Vancouver (-3.5 per cent), Calgary (-3.0 per cent) and Edmonton (-1.7 per cent) compared to the first eight months of 2018.

Source: Teranet National-Bank



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