teranetcanadianhomepricesrise Remember when we told you that Teranet and the National Bank announced plans to release the House Price Index report a month sooner? Well, it’s happened. We already have the report for April!

The House Price Index shows that Canadian home prices were up 0.8 per cent in April. This comes on the heels of a 0.5 per cent rise in March. The consecutive monthly gains follow three declines in the previous four months. The gains were especially high in Alberta. Edmonton home prices went up 1.5 per cent while Calgary home prices went up 1.4 per cent.

Here’s a summary of the gains and declines in each of the metropolitan areas measured:

  • Calgary + 1.4%
  • Edmonton + 1.5%
  • Halifax + 1.6%
  • Hamilton + 0.1%
  • Ottawa + 0.6%
  • Quebec – 0.6%
  • Toronto + 0.8%
  • Vancouver + 0.6%
  • Victoria – 0.4%
  • Winnipeg + 1.4%

The composite index was up 5.9 per cent from a year earlier.

Teranet also puts together a cool chart of the survey’s results. Check it out:

And for those of you who are going cross-eyed looking at all the numbers, we’ve got a handy summary straight from Teranet to explain what this index is all about:

“The Teranet–National Bank House Price 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 of the index.”

Chart courtesy of Teranet

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