New figures show Canadian housing prices outpacing those in other developed countries. (Black Press Media file photo)

New figures show Canadian housing prices outpacing those in other developed countries. (Black Press Media file photo)

Canadian housing prices fastest rising in the world

Relative to 2000, housing prices have risen by a factor of more than 2.5

New figures show Canadian housing prices outpacing those in other developed countries.

According to figures appearing in The Economist, Canada led a group of seven developed countries as measured by real housing prices. Starting from a base of 100 in the first quarter of 2000, Canadian housing prices have risen by a factor in excess of 2.5.

RELATED: Greater Victoria real estate expert laments lack of government action on housing supply

This rate places Canada ahead of Australia, France, Britain, the United States, Ireland and Germany. By comparison, housing prices in the United States rose by a factor of 1.5.

This international data appears against the backdrop of growing concerns about Canada’s housing market, with experts and government regulators fearing the market is overheating, if it hasn’t already.


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wolfgang.depner@peninsulanewsreview.com

Victoria

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