RPS-Wahi is a house price index (HPI) based on RPS's proven methodology.
It's published by Wahi and is a go-to metric for six reasons:
- It uses recent appraisals, land registry and other sales data, so it's timely.
- Unlike some competitors, RPS-Wahi doesn't just focus on big metros like Toronto, Vancouver and Montreal. The index takes a massive sample of 1,000 communities, from metropolises to small towns.
- To reduce skew from outliers, it uses less volatile median prices.
- Uses the latest monthly data, except for towns with fewer transactions, where it uses a more indicative adaptive moving average. That moving average filters noise using up to six months of data, with a higher weighting on the most recent months.
- It takes into account the property type in its price modelling.
- It scrubs out questionable data.
For the reasons above, the RPS-Wahi HPI is arguably the best choice for analyzing coast-to-coast macro real estate price trends.
The Mortgage Command Centre offers three RPS-Wahi HPI data points to help you, your clients, and your referral sources monitor national price action:
- RPS-Wahi HPI
- RPS-Wahi HPI (Detached)
- RPS-Wahi HPI (Condo)