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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

November 19, 2019
TERANET-NATIONAL BANK HOUSE PRICE INDEX, OCTOBER 2019

In October, Halifax home prices as measured by the Teranet-National Bank House Price Index increased by 1.3 per cent compared with September. The Halifax price level was up 8.3 per cent compared to October 2018. 

Monthly resale home prices edged down 0.1 per cent for the 11-city composite of the Teranet-National Bank House Price Index, reversing the 0.1 per cent rise reported for September. Higher housing prices were reported for 5 of 11 cities in October, with the largest monthly increases in Halifax and Victoria (0.7 per cent). The largest monthly house price declines were observe in Edmonton (-1.0 per cent) and Winnipeg (-0.4 per cent). 

National year-over-year price growth increased to 1.0 per cent in October. Home price inflation has slowed considerably from the pace observed in 2017. Year-over-year price growth in Halifax has accelerated in each of the last six months, reaching a year-over-year gain of 8.3 per cent, the strongest growth observed since October 2012.

Halifax year-over-year price growth increased to 8.3 per cent in October. Year-over-year prices were up over September 2018 in 8 of the 11 major metropolitan markets, with the largest increases in Halifax, followed by Ottawa-Gatineau (7.7 per cent), Montreal (6.0 per cent) and Hamilton (4.5 per cent). The largest price declines were reported for Vancouver (-6.2 per cent) and Edmonton (-3.4 per cent).

Year to date (comparing average prices from Jan-Oct 2019 with the same monts of 2018), Halifax home prices were up 3.5 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 (6.3 per cent). Price declines have occurred in Vancouver (-4.1 per cent), Calgary (-2.7 per cent) and Edmonton (-2.0 per cent) compared to the first ten months of 2018.

Source: Teranet National-Bank



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