Teranet-National HPI down for second month

For the second consecutive month, there has been a fall in the Teranet-National Bank Composite House Price Index.

The index was down 0.5% in November compared to the previous month, driven by a decline in Toronto (-1.4%), Hamilton (-1.6%), Ottawa-Gatineau (-0.8%) and Edmonton (-0.7%).

The cumulative drop in the index for Toronto in the past four months is 7.1% although raw data reveals a 0.2% rebound in November.

There was little change in the indexes for Vancouver (after 6 monthly increases) and Victoria but gains for Montreal (1.0%), Quebec City (0.9%), Halifax (0.8%), (Calgary 0.7%) and Winnipeg (0.5%).

Year-over-year the composite HPI was up 9.2% across all metros included, the smallest 12-month rise since June 2016.

Vancouver continues to lead the HPI indexes with a 277.85 level compared to 236.73 for Toronto, 225.28 for Hamilton, and 205.23 for Winnipeg. The composite 11 index was 217.10.

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