Edmonton the only one of 11 cities to gain on house prices index in November - InfoNews

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Edmonton the only one of 11 cities to gain on house prices index in November

December 12, 2014 - 7:39 AM

TORONTO - The Teranet-National Bank composite house price index was down 0.3 per cent per cent in November in the first monthly retreat in more than a year.

The decline was broad-based, affecting eight of 11 major Canadian markets tracked by Teranet.

Edmonton was the only city to show an increase, while Vancouver and Hamilton were unchanged from October.

Readings for Halifax, Quebec, Montreal, Winnipeg, Ottawa-Gatineau, Toronto, Victoria and Calgary were down between October and November.

Compared with a year ago, the 11-city composite index was up 5.2 per cent. In October, the year-over-year increase was 5.4 per cent.

Halifax had the biggest monthly decline in November, down 1.6 per cent, followed by Quebec City, down 1.5 per cent and Montreal, down 1.0 per cent. Calgary had the smallest decline, down 0.2 per cent.

Over the longer term, the index was down year-over-year in three cities: Ottawa-Gatineau (-0.2 per cent), in Quebec City (-0.3 per cent) and Halifax (-1.8 per cent). Three cities had moderate 12-month increases: Winnipeg (1.5 per cent), Victoria (1.4 per cent) and Montreal (0.6 per cent).

The biggest 12-month increase registered by the November index was in Calgary, up 9.2 per cent. The others were Toronto (up 7.3 per cent, Hamilton (up 7.0 per cent), Edmonton (up 6.2 per cent) and Vancouver (up 5.9 per cent).

News from © The Canadian Press, 2014
The Canadian Press

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