Teranet National House Price Index - January 2022

YEAR-OVER-YEAR

The Teranet–National Bank National Composite House Price Index™, covering eleven CMAs around the country, reported a 16.6% annual gain in January, up from the 15.5% the previous month. Halifax, Hamilton, and Victoria reported the highest year-over-year gains among the 11 CMAs in January. Halifax led the way with 31.7% year-over-year price increase, followed by Hamilton with a 25.5% gain and Victoria with 20.8% increase. For the other 18 CMAs not included in the composite index, positive annual gains were observed in each of them, ranging from 2.5% in Lethbridge to 32.9% in Windsor.

MONTH-OVER-MONTH

Before seasonal adjustment, the Teranet–National Bank National Composite House Price Index^TM increased 1.3% from December to January, up from the 0.8% growth observed last month.
After seasonal adjustment, the Teranet–National Bank National Composite House Price Index^TM increased 1.7% from December to January, up from the 1.1% growth observed last month. In January, all 11 CMAs included in the index increases. Home price growth was the strongest during the month in Toronto, Victoria, and Hamilton, with gains of 2.4%, 2.2% dans 1.9% respectively.
For the other CMAs not included in the composite index, growth was observed in 16 of the 18 CMAs, with Lethbridge and Peterborough being exceptions. Robust monthly growth was observed in Abbotsford-Mission (+5.1%) and Oshawa (+3.8%).