The House Prince Index does not use average price to measure changes in house values. It uses something called the repeat sales methodology to calculate changes in house values. This approach requires a property to have been sold at least twice in order for it to be used in their calculations. They take the current sale price of a particular house and compare it to the previous sale price to measure the increase or decrease in value over that period. This approach offers a more realistic look into changes in real estate values. You can read more about the index here.
Here is the most recent House Price Index chart for Toronto.
