Home Prices Index in Canada
The economy recorded average house price growth of 7.4% in the decade to 2022. In 2022, house price growth in Canada was 11.4%.
Canada Home Prices Chart
Canada Home Prices Data
2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
Home Prices Index (ann. var. %) | 3.6 | 1.5 | 6.5 | 14.7 | 11.3 |
House prices fall in November; housing starts decline
According to the Teranet-National Bank House Price Index, house prices dropped 0.9% in November, following the 1.0% fall in October. This marked the third straight monthly decline and likely reflected in part the effect of high interest rates. On an annual basis, house prices increased 3.2% in November, up from October’s +2.7% reading. Meanwhile, housing starts decreased 22% in November from October, and in October–November averaged lower than in Q3, boding poorly for residential investment in the quarter.
On housing starts, TD Economics’ Rishi Sondhi said: “[The] data is consistent with our view that starts will trend lower moving forward, as past weakness in home sales flow through to new supply. However, we're anticipating some bounce-back took place in December, consistent with rising permit issuance in recent months. Government actions (such as eliminating the GST on purpose-built rental building) coupled with robust population growth will likely keep the level of starts elevated through 2024, even with the anticipated downtrend.”
Latest Global Housing News
-
According to the Teranet-National Bank House Price Index, house prices dropped 0.9% in November, following the 1.0% fall in October....
-
Canada: House prices fall in October; housing starts stay solid
According to the Teranet-National Bank House Price Index, house prices dropped 1.0% in October (September: -1.3%), the second straight monthly... -
Canada: House prices fall in September; housing starts rise
According to the Teranet-National Bank House Price Index, home prices slid 1.3% in monthly terms in September, which contrasted August’s... -
Canada: House prices rise in August
The Teranet-National Bank House Price Index rose 0.6% terms in August, which followed July’s 1.8% increase. August’s outturn marked the... -
China: Housing market remains weak in August; government announces further stimulus
In January–August, the contraction in property investment steepened to 8.8% year on year from 8.5% in January–July. Indicators for commercial... -
Canada: House prices rise month on month in July; housing starts stay robust
According to the Teranet-National Bank House Price Index, house prices fell at a more moderate pace of 1.9% in July... -
China: Housing market weakens further in July
In January–July, the contraction in property investment steepened to 8.5% year on year from 7.9% in January–June. Indicators for commercial...