Teranet-National Bank home price index up in October, boosted by Vancouver

TORONTO – The Teranet–National Bank composite house price index was up 0.2 per cent in October compared with September, helped by a 1.2 per cent jump in Vancouver.

Excluding the increase in Vancouver, the composite index would have been flat compared with the month before.

Hamilton posted the second-biggest increase with a gain of 0.9 per cent, while Calgary added 0.5 per cent and Montreal climbed 0.3 per cent. Quebec City matched the national average.

Victoria and Toronto saw prices drop 0.2 per cent, while Edmonton, Winnipeg and Ottawa-Gatineau fell 0.4 per cent. Halifax lost 0.8 per cent.

Compared with a year ago, the composite index was up 5.4 per cent.

Calgary, Toronto, Hamilton and Vancouver topped the national average with gains of 9.1 per cent, 7.4 per cent, 7.3 per cent and 6.5 per cent respectively.

Edmonton gained 4.9 per cent, Winnipeg added 2.5 per cent, Quebec City climbed 1.0 per cent, Halifax gained 0.4 per cent and Ottawa-Gatineau added 0.2 per cent.

Victoria was down 0.1 per cent compared with a year ago.