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Teranet-National Bank: Canadian Real Estate Prices See Slowest June In 17 Years – Better Dwelling



Canada’s largest land registry and a Big Six Bank are starting to see a slowdown for Canadian real estate. The TeranetNational Bank House Price Index (TNB HPI) increased in June. National Bank economists warned this isn’t the bullish sign it appears to be. The index actually made the smallest increase for June in 17 years, and was negative when seasonally adjusted.

Teranet-National Bank House Price Index

The Teranet-National Bank House Price Index (TNB HPI) tracks the price movement of resale homes. It’s created as a partnership between Teranet, Canada’s largest land registry operator, and a Big Six Bank. It was designed as an independent index for the financial community. The concept is similar to CREA’s benchmark price, but there’s a key difference – the TNB HPI uses land registry data. As opposed to the MLS sales data CREA uses.

There’s pros and cons to both data sets, and neither are right or wrong, but they are different. Since CREA and related boards use MLS data, the data is entered as soon as the sale becomes unconditional. Since the measurement is taken before registry, it’s faster – but has a chance of not going through. This is rare, but happens more frequently during periods of rapid volatility.

The TNB HPI only uses land registry data, which means only sales that have competed go through. This also has the benefit of logging even non-MLS sales, which can be 10-20% higher. The issue is it typically takes a little longer for sales to hit the registry. This means the information is about 30 to 60 days from the price agreement. Some would argue this is a lag. Others argue MLS data is incomplete. Neither is better or worse, but they are different, so it’s worth it for analysts to check both for diversion or confirmation.

Canadian Real Estate Prices Rise At The Slowest Pace In 17 Years

The C11, an aggregate index of Canada’s largest 11 markets, began to show signs of slowing. Prices increased 0.69% in June, and are up 5.88% from the same month last year. When seasonally adjusted though, prices fell 0.1% in June – the first decline in 11 months. National Bank called this “confirmation” of the housing market slowdown.

Teranet-National Bank HPI C11 (Annual Change)

The 12 month percent change of real estate prices in Canada’s 11 largest cities, according to the TNB HPI.

Source: National Bank of Canada, Teranet, Better Dwelling.

The unadjusted price growth was much slower than usual, putting a drag on total growth. National Bank noted the 0.69% increase in June is half the average for the month, over the past ten years. It also happens to be the smallest increase for June in 17 years. Overall this resulted in some deceleration of the 12-month price growth trend, after 10 months of accelerating.

Toronto Real Estate Prices Grow Faster Than National Average

Greater Toronto’s composite price index reached a new record high last month. Prices increased 0.75% in the month of June, and are up 9.09% from the same month last year. This represents a new record for the index, and acceleration on price growth. Worth mentioning, Toronto’s real estate board has been noting abrupt price growth deceleration since March. This isn’t necessarily a conflict, but could be a slight lag when using registry data vs MLS data.

Toronto Real Estate Price Change

The 12 month percent change of real estate prices in Toronto, according to the TNB HPI.

Source: National Bank of Canada, Teranet, Better Dwelling.

Vancouver Real Estate Prices Are Still Below 2018 Peak

Greater Vancouver’s composite price index increased, but lagged the national movement. Prices increased 0.18% in June, and are now up 1.13% compared to the same month last year. Prices remain 4.18% lower than they were at the peak in July 2018. This index may also be lagging the board’s index, which is actually seeing prices fall further from peak.

Vancouver Real Estate Price Change

The 12 month percent change of real estate prices in Vancouver, according to the TNB HPI.

Source: National Bank of Canada, Teranet, Better Dwelling.

Montreal Real Estate Prices Are Growing Twice As Fast As The National Average

Greater Montreal’s composite price index is growing at twice the pace of the national movement. Prices increased 1.36% in June, and are up 10.28% from the same month last year. This represents a new all-time high for the market. The market is overperforming on both the month and year.

Montreal Real Estate Price Change

The 12 month percent change of real estate prices in Montreal, according to the TNB HPI.

Source: National Bank of Canada, Teranet, Better Dwelling.

Calgary Real Estate Prices Fall Further From October 2014 Peak

Calgary real estate almost looked like it was in the clear, but reversed in January. Prices are down 0.09% in June, bringing them 1.29% lower than the same month last year. Composite prices are now down 8.28% from the peak reached in October 2014. With the monthly decline, prices are getting further from peak.

Calgary Real Estate Price Change

The 12 month percent change of real estate prices in Calgary, according to the TNB HPI.

Source: National Bank of Canada, Teranet, Better Dwelling.

Canadian real estate is seeing prices rise, but at a pace below expectation. When adjusted for seasonality, prices are even falling by this measure. Large markets like Toronto and Montreal  are outperforming the national index, which is contrary to CREAs HPI. CREA’s numbers show these markets are underperforming. The data is mixed, but this could be an indication some segments of the TNB HPI are showing their lag.

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AIB agrees to life and pensions joint-venture with Canada Life



Allied Irish Banks on Wednesday said it would form a joint venture with Canada life as it seeks to plug gaps in its life, savings and wealth products.

The joint venture will be equally owned by Canada Life, a subsidiary of Great-West Lifeco Inc.

“The move to create this joint venture is aligned with AIB’s stated ambition to complete its customerproduct suite and diversify income,” AIB said in a statement.

“Through this strategic initiative AIB intends to offer customers a range of life protection, pensions, savings and investment options enhanced by integrated digital solutions withcontinued access to our qualified financial advisors.”

The Irish lender highlighted Canada Life’s “deep experience” of the Irish bancassurance market through Irish Life Assurance, which is also a subsidiary of Great-West Lifeco.

AIB currently operates under a tied agency distribution agreement with Irish Life, and will enter into a new distribution agreement with the new joint venture company.

Chief Executive Colin Hunt highlighted the need to plug gaps in AIB’s life, savings and wealth products when he set out the bank’s medium-term targets last December.

AIB expects its equity investment in the joint venture will be around 90 million euros ($107.51 million), equating to around 10bps of CET1.($1 = 0.8372 euros)

(Reporting by Graham Fahy;Editing by Elaine Hardcastle)

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Interac: Canada’s Latest Payment Solution Phenomenon



Few can argue that digital payment methods aren’t central to modern-day society. In recent times, increasing numbers of payment solutions have come to the forefront, offering consumers more choice regarding their transaction preferences. Canada, in particular, has embraced a wide-ranging selection of secure, forward-thinking options. Of those available throughout the country, Interac has piqued the interests of local consumers the most. So, let’s look at why this payment solution is an especially popular option throughout Canada. 

Usable Across Various Markets 

It speaks volumes about Interac’s versatility in that it’s usable across a variety of different industries. Since being founded in 1984, the Canadian interbank network has become integral to numerous markets, including local air travel. Air Canada, which has been operating since 1937, has expanded their accepted payment methods, and now passengers can pay for their flights using Interac. According to the airline’s official website, the Interac Online service lets consumers pay for their tickets via the internet directly from their bank account. 

Not only that, but Interac is also available at Walmart. In November 2020, the two organizations partnered together to expand in-store and online payment options. Walmart has adapted well to the digital trend, with American Banker reporting that they’ve opened Interac Flash sale points throughout their stores. 

Source: Unsplash

Aside from the above, Interac has also taken the digital world by storm. Following its rapid rise to prominence, the solution has also altered the online casino industry, with platforms like Genesis Casino now accepting the transaction type. The provider, which features Interac Canadian casino options, uses the popular payment method to enhance transaction speeds of deposits and withdrawals, as well as security. Players can use Interac Online and Interac e-Transfer to make deposits or withdrawals from their desktops or mobiles as the platform is fully optimized. 

A Reflection of Modern-Day Society 

In recent times, Interac recorded a 55 percent increase in transactions between April and August 2020 compared to the same period the previous year, as per BNN Bloomberg. These figures somewhat reflect the current state of e-Commerce and modern consumerism. Following the rise of Interac and other payment methods, it’s now less troublesome for consumers to complete in-store and online purchases. 

Source: PxHere

There’s an ever-growing perception that land-based businesses need to adapt within the digital era and accept forward-thinking payment methods. According to Cision, Interac is of utmost importance to the Canadian economy, and a year-on-year increase in Interac Debit payments of 333 percent reflects that. Not only that, but Interac e-Transfer payments are growing at 52 percent each year. This Interac-oriented trend appears unlikely to fade over the coming years, with the network being selected as the country’s provider for a new real-time payment system, as per Lexology. 

Consumer Habits are Changing 

There can be no doubt that consumerism has changed drastically over the past decade. The popularity of Interac suggests that a cashless future may be on the horizon, with increasing numbers of shoppers enjoying the security of online payment methods. While it’s currently unclear if that will happen, Interac appears to be prevalent for the long run.

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Your Education and Certificates Need to Align the Job Requirements



After your professional experience, your education/certifications (verified skills) will be the next section on your resume the reader will use to judge whether you go into the “to be interviewed” pile. 

Many job seekers apply to job postings knowing they don’t have the education/certification requirements. They believe their “experience” will compensate. With so many highly qualified job seekers now on the job market this is rarely the case. If your education/certifications align with the job requirements, the education section of your resume will play a critical part in setting you apart from all the “spray and pray” job seekers.

Suppose a job posting for a Director of Finance lists as a qualification “Canadian Accounting Designation (CPA).” You have a university degree and 15 years of experience managing a mid-size company’s finances, but no CPA—don’t bother applying. Job postings generate an influx of applicants. Undoubtedly there’ll be many applicants who possess a CPA applying. There’s also the employer’s ATS to consider, which likely has been programmed to scan for “CPA.”  

Education background information you should provide:

  • Degree/certification obtained 
  • School’s name
  • Location of school
  • Period of attendance
  • Relevant coursework
  • Honors, academic recognition, extracurricular activities, or organizations participation worth mentioning

When it comes to presenting your educational background keep your ego in check. You may have impressive education background; however, it may not be impressive for the job you’re vying for. Prioritize relevancy over perceived prestige.

Here’s my suggestion how to present your education/certificates (there’s no hard formatting rule):

BS Biomedical Science

University of Calgary, Calgary, AB — 09/1992 – 06/1996


  • Principles of Human Genetics
  • Organismal Biology
  • Principles and Mechanisms of Pharmacology
  • Advanced Bioinformatics

PMP® Certification

Ryerson University Continuing Education, Toronto, ON — 10/2001 – 04/2003


  • Planning and Scheduling
  • Leadership in Project Management
  • Project Cost and Procurement Management
  • Project Risk and Quality Management

As I’ve pointed out in previous columns— there’s no universal hiring methodology. No two hiring managers assess candidates the same way. Depending on the job requirements respective employers search for different things when it comes to a candidate’s education. Read the qualifications in the job posting carefully. Then present your education/credentials accordingly. Don’t hesitate to add/remove courses to better tie in your education towards the job. It’s for this reason I suggest you list courses, not just your degree/certification. Listing of courses is rarely done, doing so will give your resume a competitive advantage.

You’ll have noticed my examples indicated start and end dates. Many “career experts” advise against this. The thinking being dates, even just the graduation year, will give employer’s a sense of your age, which if your over 45 can hinder and prolong your job search. This advice is supposed to be a workaround to ageism. However, these same “career experts” unanimously agree employment dates (month/year) need to be indicated. To me, this is a mixed message.    

I believe in complete transparency from both sides of the hiring process. Full transparency ensures the likelihood of there being a solid fit for both parties. At some point, whether when the employer checks your digital footprint or interviews you, your interviewer will have a good indication of your age. Besides, not mentioning dates, which I call “obvious” information, is a red flag. 

If your age is a deal-breaker with an employer, they aren’t the employer for you. The job search advice I give most often: Seek employers who’ll most likely accept you, where you’ll feel you belong—look for your tribe.

Some professions, such as finance or healthcare, require specific certifications or degrees. In such cases, show you have the necessary “must-have” (a deal-breaker if you don’t) credentials by placing your education at the top of the page just below your contact information before your professional experience.

One last note: Often overlooked is education in progress. If relevant, this should be included in your resume. In this case, list pertinent courses and the month/year you intend to graduate.

Using suggestions in this and previous columns you are now able to create a resume that “WOWs.” Next week, I’m going to begin discussing cover letters. Yes, many hiring managers, like myself, do read cover letters, which have one purpose—to give the reader a reason to read your resume.


Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers advice on searching for a job. You can send him your questions at

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