Home prices in Canada rose 3.1 per cent over the 12 months of 2012, the lowest rate in three years, according to the latest Teranet-National Bank home price index.
Of the 11 major urban centres that were surveyed, nine markets saw prices increase in 2012: Hamilton (7.4 per cent), Toronto (6.3 per cent), Halifax (5.6 per cent), Quebec City (4.2 per cent), Calgary (4.1 per cent), Winnipeg (3.9 per cent), Montreal (3 per cent), Ottawa (2.6 per cent) and Edmonton (1.5 per cent).
Prices remained flat in Victoria and decline by two per cent in Vancouver in 2012.
From November to December, the national index dropped 0.4 per cent – the fourth consecutive monthly decline.
This Teranet chart breaks down December’s numbers as well as the annual data, regionally and nationally:
Teranet-National Bank home price index is estimated by tracking observed or registered home prices using data collected from public land registries. It tracks repeat sale prices, so properties with at least two sales are considered in the calculations.