Price trends in key Canadian housing markets, fourth quarter 2021
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Released: 2022-02-07
The Residential Property Price Index (2017=100) is now available for the fourth quarter of 2021.
The Residential Property Price Index, as well as the Resale Residential Property Price Index, will be terminated following the release of the 2021 fourth quarter data. The New Housing Price Index will continue to be published on a monthly basis. The New Condominium Apartment Price Index (NCAPI) will be released on a quarterly basis as part of a new data table. Starting on May 4, 2022, the NCAPI will be available for the nine census metropolitan area (CMA) composite, as well as for the nine CMAs: Halifax, Montréal, Quebec city, Ottawa, Toronto, Edmonton, Calgary, Vancouver, and Victoria.
Note to readers
The Residential Property Price Index (RPPI) measures changes over time in the selling prices of residential properties. The RPPI provides a comprehensive portrait of the residential real estate market, since it covers both the market for new houses and condominium apartments and the resale market in the census metropolitan areas (CMAs) of Montréal, Ottawa, Toronto, Calgary, Vancouver, and Victoria, and for a composite of these six CMAs. The RPPI is a quarterly index, starting in the first quarter of 2017.
RPPI data for the previous quarter may be subject to revision and are not seasonally adjusted.
Products
The article titled "The resilience and strength of the new housing market during the pandemic" examines the changes in new home prices in Canada for the 27 CMAs surveyed in the New Housing Price Index. It also compares city rankings based on housing prices six months after the start of the COVID-19 pandemic (August compared with February).
A study titled "Price trends and outlook in key Canadian housing markets" examines where the housing market was at the onset of the pandemic, sheds light on what has happened since then, and explores the challenges facing the Canadian market going forward.
The infographic titled "The impact of COVID-19 on Key Housing Markets," part of the series Statistics Canada – Infographics (11-627-M), is available. It provides a look at the housing market before, during and after the pandemic.
Statistics Canada has a Residential Property Price Index Data Visualization Tool. This interactive dashboard provides access to current and historical data from the RPPI and its subcomponents (new and resale houses and condominium apartments) for the CMAs of Montréal, Ottawa, Toronto, Calgary, Vancouver, and Victoria, and for a composite of these six CMAs, in a dynamic and customizable format.
The Methodology of the Residential Property Price Index (RPPI) is available. This document provides details on the methodology used to calculate the New Housing Price Index, the New Condominium Apartment Price Index and the Resale Residential Property Price Index. It also provides details on how these indexes are compiled to form the RPPI.
Contact information
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).
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