Halifax home prices edge up as national market declines

CITYnews halifax / By Dan Ahlstrand

Halifax home prices edged up in february, outpacing the national trend according to new data from the Canadian Real Estate Association

Home prices in Halifax-Dartmouth rose 0.5% in February to $557,300, while Nova Scotia as a whole saw a 1.2% decline. Year-over-year, Halifax prices increased 7.1%, surpassing the provincial gain of 5.5%.

Nationally, the aggregate home price fell 0.8% on the month and 0.8% year-over-year. Halifax outperformed the national trend over both periods.

In Atlantic Canada, greater Moncton saw a slight 0.1% dip in February, while prices in Fredericton climbed 0.6%.

Year-over-year, Moncton rose 5.0%, Fredericton 18.2%, and Saint John 16.6%. New Brunswick as a whole increased 10.7% over the year.

In Prince Edward Island, prices fell 0.8% on the month but rose 1.6% year-over-year. Newfoundland and Labrador posted a 0.5% gain in February and an 8.0% annual increase, while St. John’s prices rose 1.0% on the month and 12.8% over the year.

Compared to other Atlantic cities, Halifax’s annual price growth was lower than Fredericton and Saint John but remained higher than Moncton and the national average.