Quebec City leads modest home price increase
August 28, 2020
The Teranet-National Bank House Price Index for July showed nine out of 11 Canadian cities surveyed reported a price increase—led by Quebec City—but the overall index rose a tepid 0.3 per cent from June 2020.
This was the lowest index advance for July since 2005.
On a month-to-month measure, the highest price increases were in Quebec City, up 1.4 per cent from June; the Ottawa region, up 1.2 per cent; Winnipeg, up 1.1 per cent; and Halifax, where the price index increased 1 per cent.
Montreal and Toronto saw very modest increases, at 0.8 per cent and 0.3 per cent, respectively, according to Teranet-National Bank figures.
The July index for Calgary edged up 0.1 per cent, was flat for Vancouver and declined 0.3 per cent in Victoria.
The Teranet-National Bank House Price Index is unique in its real estate price tracking. It is based on land registry data and uses the repeat-sales method, which marks the change in price between the two most recent sales of a residential property that has been sold at least twice.