Teranet National House Price Index - July 2022
The Teranet–National Bank National Composite House Price Index™, covering eleven CMAs around the country, recorded an annual gain of 16.7% in June, less than the 18.3% growth recorded the previous month. Increases were seen in all eleven cities in the composite index in June. Halifax led the way with a 30.9% year-over-year price increase, followed by Hamilton with a 25.1% gain, and Victoria and Toronto with 19.7% increases. For the remaining 20 CMAs not included in the composite index, positive annual gains were observed in all of them, ranging from 5.9% in Lethbridge to 30.2% in Brantford.
Before seasonal adjustment, the Teranet–National Bank National Composite House Price Index™ rose 1.3% from May to June, down from the 2.3% growth seen last month.
After seasonal adjustment, the Teranet–National Bank National Composite House Price Index™ rose by 1.0% from May to June, a slower pace than the 1.5% increase observed the previous month. In June, 9 of the 11 CMAs included in the index experienced gains, with Edmonton (-0.5%) and Victoria (-0.4%) being the exceptions. House price growth was the strongest during the month in Quebec City and Montreal, with gains of 2.5% and 2.2% respectively. For the other CMAs not included in the composite index, growth was observed in 16 of the 20 CMAs. The strongest monthly gains were observed in Trois-Rivières (+4.7%), Sudbury (+3.8%), Sherbrooke (+3.4%) and Moncton (+3.1%). Conversely, decreases were observed in Lethbridge (-0.3%) and Oshawa (-0.3%), while prices remained stable in Kelowna and Peterborough.