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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

October 18, 2019
TERANET-NATIONAL BANK HOUSE PRICE INDEX, SEPTEMBER 2019

In September, Halifax home prices as measured by the Teranet-National Bank House Price Index were virtually unchanged compared to the previous month. The Halifax price level was up 5.8 per cent compared to September 2018. 

Monthly resale home prices edged up 0.1 per cent for the 11-city composite of the Teranet-National Bank House Price Index after a 0.4 per cent increase in August. Higher housing prices were reported for 6 of 11 cities in September, with the largest monthly increases in Montreal (1.0 per cent) and Ottawa-Gatineau (0.8 per cent). Vancouver (-0.5 per cent), Quebec City (-0.7 per cent) and Victoria (-0.3 per cent) reported lower prices compared to August. 

National year-over-year price growth was 0.7 per cent in September. 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 five months.

Halifax year-over-year price growth increased to 5.8 per cent in September. Prices were up over September 2018 in 6 of the 11 metropolitan markets, with the largest increases in Ottawa-Gatineau (7.1 per cent), Montreal (6.3 per cent) and Halifax. The largest price declines were reported for Vancouver (-7.1 per cent) and Edmonton (-3.1 per cent).

Year to date, Halifax home prices were up 2.9 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 (6.2 per cent). Price declines have occurred in Vancouver (-3.9 per cent), Calgary (-2.8 per cent) and Edmonton (-1.9 per cent) compared to the first nine months of 2018.

Source: Teranet National-Bank



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