Calgary is the only metropolitan region in the country where house prices remain below their pre-recession peak, according to a national report released today.

The Teranet-National Bank House Price Index, which surveys six major centres in Canada, said house prices in Calgary were off in April by 9.7 per cent since August 2007.

The index is estimated by tracking observed or registered home prices over time using data collected from public land registries. All dwellings that have been sold at least twice are considered in the calculation of the index.

The five other metropolitan regions surveyed include Ottawa, Toronto, Vancouver, Montreal and Halifax.

In April, the index said Calgary showed year-over-year price growth of only 4.2 per cent - the lowest rate in the country behind Toronto at 17 per cent, Vancouver at 15.6 per cent, Ottawa at 9.7 per cent, Montreal at 8.2 per cent and Halifax at 6.3 per cent.

The national composite was 12.9 per cent.

On a monthly basis, Calgary saw prices up by 0.8 per cent - the same as the national average.

That national average was the 12th consecutive monthly rise. And for the first time in five months, prices increased in each of the six regions covered.

In those regions, home prices are now 2.9 per cent above their recession peak.

Calgary Herald