Teranet National House Price Index - February 2022

YEAR-OVER-YEAR

The Teranet–National Bank National Composite House Price Index^TM, covering eleven CMAs around the country, reported a 17.7% annual gain in February, up from the 16.6% the previous month. Halifax, Hamilton, and Victoria reported the highest year-over-year gains among the 11 CMAs in February. Halifax led the way with 32.5% year-over-year price increase, followed by Hamilton with a 27.9% gain and Victoria with 22.5% increase. For the other 18 CMAs not included in the composite index, positive annual gains were observed in each of them, ranging from 2.9% in Lethbridge to 35.3% in Abbotsford-Mission.

 

MONTH-OVER-MONTH

Before seasonal adjustment, the Teranet–National Bank National Composite House Price Index^TM increased 1.5% from January to February, up from the 1.3% growth observed last month.
After seasonal adjustment, the Teranet–National Bank National Composite House Price Index^TM increased 1.7% from January to February, down from the 1.8% growth observed last month. In February, all 11 CMAs included in the index witnessed an increase. Home price growth was the strongest during the month in Hamilton, Victoria, and Toronto, with gains of 4.0%, 2.5%, and 2.0% respectively. For the other CMAs not included in the composite index, growth was observed in 17 of the 18 CMAs, with Sherbrooke being the sole exception. Robust monthly growth was observed in Abbotsford-Mission (+4.9%) and Guelph (+4.4%).