Windsor posts highest home price index hike
November 29, 2019
Windsor, Ontario and Halifax, Nova Scotia posted the highest year-over-year increase in the home price index in October, rising 9.8 per cent and 8.3 per cent, respectively, from October 2018, according to the Teranet-National Bank Composite Price Index.
These increases compare with an annual gain of only 1 per cent nationally, according to the latest index, released November 19. The index was down, however, from September.
The monthly decline was in line with the average of the last 10 Octobers, in which the index retreated in half of them.
From October 2018, Toronto’s home price index was up 4.5 per cent and Montreal’s increased 5.9 per cent, but Vancouver’s was down 6.1 per cent.
Pulling the composite down in October 2019 were modest declines from September in the indexes for Toronto (0.2 per cent), Montreal (0.1 per cent), and Edmonton and Winnipeg (down 1 per cent and 0.4 per cent, respectively).
Pulling up the month-over-month index were Quebec City (0.1 per cent), Vancouver (0.2 per cent), Ottawa-Gatineau (0.2 per cent), Victoria (0.7 per cent) and Halifax and Windsor (up 1.2 per cent and 0.6 per cent, respectively).
For Vancouver, October was the first monthly rise in 15 months—consistent with a strong revival of home sales since August. For Ottawa-Gatineau, October was the seventh consecutive monthly rise. Victoria has also had a good run with gains in six of the last seven months. For Halifax it was the tenth advance in 12 months. For Toronto, on the other hand, October ended a run of six monthly rises.