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Figure 1: House Prices — Average Annual Growth (%)
Source: CMHC calculations.
Note: Average annual growth rate (AAGR). House prices: price changes based on a CMHC repeat sales price index (2024 house price data is for the first 3 quarters only). This is a different price measure than forecasted in the CMHC Housing Market Outlook (HMO) publication.
| Regions | Between 2004 and 2019 (%) | Between 2019 and 2024 (%) |
|---|---|---|
| Toronto | 7.6 | 6.7 |
| Ottawa – Gatineau | 4.1 | 9.5 |
| Rest of Ontario | 6.0 | 10.4 |
| Montréal | 4.7 | 10.2 |
| Rest of Quebec | 4.6 | 11.4 |
| Vancouver | 8.0 | 6.4 |
| Rest of British Columbia | 7.0 | 8.2 |
| Calgary | 4.3 | 7.3 |
| Edmonton | 4.3 | 2.6 |
| Rest of Alberta | 4.1 | 3.6 |
| Manitoba | 6.1 | 4.3 |
| Saskatchewan | 5.7 | 2.9 |
| Nova Scotia | 3.4 | 14.4 |
| Newfoundland and Labrador | 4.6 | 5.6 |
| New Brunswick | 3.0 | 14.3 |
| Prince Edward Island | 4.7 | 10.1 |
