Canada House Price Index

by Eduardo Petazze
In April 2014, according to official statistics, prices are growing at an annual rate equivalent to 1.55% Y/Y
In May 2014, the TeranetNational Bank National Composite House Price Index was up 0.76% M/M (+4.58% Y/Y)
The purpose of this is to review available information on the Canadian real estate market.
StatsCan released the following information on a monthly basis:
Building permits, April 2014
New Housing Price Index (NHPI)
April 2014 pdf, 4 pages
March 2014 pdf, 4 pages
February 2014 pdf, 4 pages
Annual weights
Investment in new housing construction (table 026-0017)
Teranet and National Bank of Canada release its House Price Index
May 2014
Since in May 2013 the monthly rise of the composite index was 1.1%, this Mays 0.8% rise meant
that 12 month home price inflation decelerated 0.3 percentage points to 4.6%
In April the TeranetNational Bank National Composite House Price Index was up 0.5% M/M
March 2014
Canada Mortgage and Housing Corporation (CMHC) release
Canadas Rental Vacancy Rate Remains Unchanged
May 2014 Housing Starts in Canada
April 2014 Housing Starts in Canada
Comprehensive Report on Housing in Canada
The Canadian Real Estate Association (CREA) release its:
Canadian home sales +5.9% M/M (+4.8% Y/Y) in May 2014 pdf, 9 pages
Canadian home sales pick up in April
Canadian home sales edge slightly higher in March
CREA Updates and Extends Resale Housing Forecast
The following table summarizes the price indicators, expressed as index numbers with base 2007 = 100) compiled by
StatsCan and Teranet (Composite House Price Index for 11 cities)
2007=100
2008
2009
2010
2011
2012
2013
2014
Own estimate
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Own estimate
Last data

StatCan
New housing price
103.4
101.0
103.2
105.5
108.0
109.9
112.3
108.5
108.7
108.8
109.0
109.1
109.3
109.4
109.6
109.7
109.9
110.1
110.2
110.2
110.3
110.3
110.4
110.7
110.9
111.1
111.3
111.6
112.2
112.6
113.1
113.3

Y/Y
3.41%
-2.32%
2.20%
2.20%
2.35%
1.76%
2.21%

Composite 11
105.5
102.5
111.6
117.2
122.8
126.0
131.1

2.36%
2.35%
2.16%
2.25%
2.25%
2.15%
1.96%
1.95%
1.76%
1.76%
1.85%
1.75%
1.57%
1.47%
1.38%
1.28%
1.47%
1.46%
1.55%
1.55%
1.76%
2.08%
2.30%
2.59%
2.82%

124.7
124.4
123.9
123.4
123.1
122.9
123.3
123.6
125.0
126.3
127.2
128.0
128.0
128.2
128.1
128.1
128.7
129.0
129.1
129.7
130.7
131.0
131.6
132.2
132.5

IMF - Global Housing Watch

Link to the new website
From IMF web page
Launch Press Release
New Global Housing Watch Throws Spotlight on Booms and Busts
Housing Markets, Financial Stability and the Economy
Era of Benign Neglect of House Price Booms is Over

Teranet
M/M

Y/Y
5.46%
-2.79%
8.90%
4.97%
4.81%
2.57%
4.05%

-0.35%
-0.25%
-0.37%
-0.37%
-0.29%
-0.18%
0.39%
0.24%
1.11%
1.04%
0.74%
0.61%
0.00%
0.14%
-0.08%
0.05%
0.40%
0.30%
0.01%
0.54%
0.76%
0.18%
0.45%
0.48%
0.25%

3.64%
3.43%
3.29%
3.08%
2.67%
2.66%
2.60%
2.04%
2.00%
1.81%
1.85%
2.31%
2.68%
3.07%
3.37%
3.81%
4.53%
5.04%
4.64%
4.95%
4.58%
3.69%
3.39%
3.26%
3.52%