The House Price Index™ will include indices for Edmonton, Hamilton, Québec, Victoria and Winnipeg as early as next Wednesday, according to a news release by National Bank and Teranet today.
The new metropolitan area indices will be combined with the current 6 cities to form a composite 11 House Price Index™.
For those tracking the existing composite index, it will still be available and named the Composite 6 House Price Index™.
The HPI is based on the “repeat sales methodology,” which is widely accepted as a reliable approach for tracking the housing market.
With Edmonton added to the index, we’ll now be able to see how the 2 largest markets within Alberta track and compare with each other.