Teranet National House Price Index - April 2022

YEAR-OVER-YEAR

The Teranet–National Bank National Composite House Price Index^TM, covering eleven CMAs around the country, reported a 18.8% annual gain in April, breaking the record growth of 18.4% observed the previous month and in August 2021. Halifax, Hamilton, and Victoria reported the highest year-over-year gains among the 11 CMAs in April. Halifax led the way with a 34.8% year-over-year price increase, followed by Hamilton with a 28.9% gain, and Victoria and Toronto with 22.5% increases. As for the other 20 CMAs not included in the composite index, positive annual gains were observed in each of them, ranging from 5.8% in Lethbridge to 37.9% in Abbotsford-Mission.

MONTH-OVER-MONTH

Before seasonal adjustment, the Teranet–National Bank National Composite House Price Index^TM increased 2.7% from March to April, up from last month's 2.1% growth and the second highest monthly growth on record after May 2021.

After seasonal adjustment, the Teranet–National Bank National Composite House Price Index^TM increased 2.0% from March to April, matching the increases of the past two months and one of the strongest monthly increases ever recorded (after May 2021 at 2.4%). In April, 10 of the 11 CMAs included in the index experienced increases, with Edmonton being the exception. Home price growth was the strongest during the month in Halifax, Hamilton, and Ottawa-Gatineau, with gains of 3.9%, 2.8% and 2.7% respectively. For the other CMAs not included in the composite index, growth was observed in all 20 CMAs. The strongest monthly growth was observed in Guelph (+5.6%), Kingston (+4.8%) and Peterborough (+4.6%).