There was a gain in the national home prices in August according to the latest Teranet-National Bank Composite HPI.

The index shows a 0.6% rise in the month, down from the 0.7% gain in July which is also the 19-year average for August.

Toronto was the largest negative impact on the index with a 0.4% drop in aggregate property value, the first declining trend in the CMA since January 2016. Excluding condos, the index was down 1%.

Prices increased in Vancouver (2.4%), Victoria (1.8%), Ottawa-Gatineau (1.4%), Winnipeg (1.3%) and Edmonton (0.8%). There were below-national-average gains for Halifax (0.3%) and Calgary (0.1%) and declines in the indexes for Montreal (−0.1%) and Quebec City (−0.6%). Hamilton matched the national gain of 0.6%.

Year-over-year, there was a 13.1% gain for the index nationally, led by Toronto (23.9%), Hamilton (23.4%) and Victoria (16.0%).

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate


More market watch: