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    NA   CA6330671034

NATIONAL BANK OF CANADA

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Canadian home price gains accelerate again in May - Teranet

06/17/2021 | 02:35pm EDT
A realtor's for sale sign stands outside a house that had been sold in Ottawa

OTTAWA (Reuters) - Canadian home prices accelerated again in May from the previous month, posting the largest monthly rise in the history of the Teranet-National Bank Composite House Price Index, data showed on Thursday.

The index, which tracks repeat sales of single-family homes in 11 major Canadian markets, rose 2.8% on the month in May, led by strong month-over-month gains in the Ottawa-Gatineau capital region, in Halifax, Nova Scotia, and in Hamilton, Ontario.

"It was a third consecutive month in which all 11 markets of the composite index were up from the month before," said Daren King, an economist at National Bank of Canada, in a note.

On an annual basis, the Teranet index was up 13.7% from a year earlier, the 10th consecutive acceleration and the strongest 12-month gain since July 2017.

Halifax led the year-over-year gains, up 29.9%, followed by Hamilton at 25.5% and Ottawa-Gatineau at 22.8%.

Housing price gains in smaller cities outside Toronto and its immediate suburbs again outpaced the major urban centers, with Barrie, Ontario leading the pack, up 31.4%.

On a month-over-month basis, prices rose 4.9% in Ottawa-Gatineau, 4.3% in Halifax and 3.7% in Hamilton.

The Teranet index measures price gains based on the change between the two most recent sales of properties that have been sold at least twice.

Canada's average home selling price, meanwhile, fell 1.1% in May from April, Canadian Real Estate Association data showed on Tuesday, but jumped 38.4% from May 2020.

(Reporting by Julie Gordon in Ottawa; Editing by Christopher Cushing)


ę Reuters 2021
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Sales 2021 9 077 M 7 248 M 7 248 M
Net income 2021 2 892 M 2 309 M 2 309 M
Net Debt 2021 - - -
P/E ratio 2021 11,2x
Yield 2021 2,98%
Capitalization 32 315 M 25 735 M 25 803 M
Capi. / Sales 2021 3,56x
Capi. / Sales 2022 3,46x
Nbr of Employees 26 211
Free-Float 99,7%
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Number of Analysts 13
Last Close Price 95,75 CAD
Average target price 99,75 CAD
Spread / Average Target 4,18%
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Louis Vachon President, CEO & Non-Independent Director
Ghislain Parent Chief Financial Officer & Executive VP-Finance
Jean Houde Chairman
Julie LÚvesque Executive Vice President-Information Technology
Laurent Ferreira Chief Operating Officer & Director
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