Calgary tops Canada for repeat home sale price growth
Increase of 5.9% from last year
Prices for repeat home sales in Calgary saw the highest year-over-year hike in Canada in November.
Photograph by: Steven Senne , AP
CALGARY - Calgary had the nation’s best year-over-year price growth in November for repeat home sales, according to the latest Teranet-National Bank National Composite House Price Index released Thursday.
Prices in Calgary rose by 5.9 per cent from October 2012 while they were up 3.4 per cent in the 11 metropolitan markets surveyed for the index.
The rise from a year earlier exceeded the cross-country average in five of the 11 markets: Calgary, Hamilton (5.2 per cent), Toronto (4.2 per cent), Vancouver (3.9 per cent) and Quebec City (3.7 per cent). The report said the 12-month gain lagged the average in Edmonton (3.0 per cent), Winnipeg (2.8 per cent), Ottawa-Gatineau (1.2 per cent), Halifax and Montreal (0.8 per cent). Prices were down in Victoria (1.4 per cent).
The index is estimated by tracking observed or registered home prices over time using data collected from public land registries. All dwellings that have been sold at least twice are considered in the calculation.
On a monthly basis, prices in Calgary fell by 0.3 per cent from October and by 0.1 per cent across the country.
Prices were up on the month in four of the 11 metropolitan areas: Vancouver and Halifax (0.6 per cent), Hamilton (0.3 per cent) and Winnipeg (0.1 per cent). Prices were down from the month before in Victoria (1.8 per cent), Montreal (0.6 per cent), Calgary (0.3 per cent) and Edmonton, Quebec City, Ottawa-Gatineau and Toronto (0.2 per cent).
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Prices in Calgary rose by 5.9 per cent from October 2012 while they were up 3.4 per cent in the 11 metropolitan markets surveyed for the index.
The rise from a year earlier exceeded the cross-country average in five of the 11 markets: Calgary, Hamilton (5.2 per cent), Toronto (4.2 per cent), Vancouver (3.9 per cent) and Quebec City (3.7 per cent). The report said the 12-month gain lagged the average in Edmonton (3.0 per cent), Winnipeg (2.8 per cent), Ottawa-Gatineau (1.2 per cent), Halifax and Montreal (0.8 per cent). Prices were down in Victoria (1.4 per cent).
The index is estimated by tracking observed or registered home prices over time using data collected from public land registries. All dwellings that have been sold at least twice are considered in the calculation.
On a monthly basis, prices in Calgary fell by 0.3 per cent from October and by 0.1 per cent across the country.
Prices were up on the month in four of the 11 metropolitan areas: Vancouver and Halifax (0.6 per cent), Hamilton (0.3 per cent) and Winnipeg (0.1 per cent). Prices were down from the month before in Victoria (1.8 per cent), Montreal (0.6 per cent), Calgary (0.3 per cent) and Edmonton, Quebec City, Ottawa-Gatineau and Toronto (0.2 per cent).
mtoneguzzi@calgaryherald.com
Twitter.com/MTone123
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