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.


Do you have a story tip? Email: vnc.editorial@blackpress.ca.

Follow us on Twitter and Instagram, and like us on Facebook.

wolfgang.depner@peninsulanewsreview.com

Victoria

Just Posted

Dep. Fire Chiefs Rich Piché (left) and Stephane Dionne said they were disappointed that only one person showed up at the George Evans fire hall’s recruitment drive Tuesday evening, May. 11. Photo: Laurie Tritschler
Grand Forks Fire/Rescue says rural fire hall at risk of closing

Home insurance could spike across North Fork if George Evans fire hall loses fire protection status

The first Pfizer-BioNTech COVID-19 vaccine dose in Canada is prepared at The Michener Institute in Toronto on Monday, Dec. 14, 2020. THE CANADIAN PRESS/Frank Gunn
One death, 39 new cases of COVID-19 in Interior Health

There are 484 active cases of the virus in the region currently

A Canadian Pacific train derailed near Nelson on Tuesday evening. Photo: Jeff McIntosh/The Canadian Press
Canadian Pacific freight train derails near Nelson

There were no injuries or spills related to the incident

File photo.
The Way it Was

1916: Phoenix holds per capita automobile record

Four homes in Johnson Flats were at serious risk of falling into a neighbourhood section of the Kettle River, according to capital project manager Justin Dinsdale. Photo: Laurie Tritschler
Grand Forks shields riverside homes against erosion

Crews have built a modified dike along a section of the Kettle River in Johnson Flats

BC Housing minister David Eby. (THE CANADIAN PRESS/Chad Hipolito)
Eby jabs back against Penticton mayor’s ad urging BC Premier to intervene in shelter dispute

Eby writes that Penticton’s ‘serious’ social issues won’t improve under leadership of the mayor

Provincial health officer Dr. Bonnie Henry updates B.C.’s COVID-19 situation at the B.C. legislature, April 29, 2021. (B.C. government)
B.C.’s COVID-19 rate creeps up again, 600 new cases Wednesday

One more death, 423 people in hospital with virus

B.C. Agriculture Minister Lana Popham takes questions in the B.C. legislature in 2017. (Hansard TV)
UPDATE: B.C. will fund another year of fresh fruit, vegetables, milk in schools

John Horgan government working on school meal program

Surrey RCMP is releasing sketches of a suspect in an “indecent act” at the Coyote Creek Elementary playground on April 30, 2021. Police said the suspect was clean-shaven “during some interactions” and on “other occasions had stubble outlining a goatee and mustache.” (Images: Surrey RCMP handout)
Vancouver mayor-elect Kennedy Stewart addresses supporters in Vancouver on Sunday, Oct. 21, 2018. THE CANADIAN PRESS/Darryl Dyck
Vancouver mayor says there’s no time to redo details of drug decriminalization plan

Kennedy Stewart says a federal election could see the small window of opportunity close on the city’s bid for an exemption from criminal provisions on simple possession of small amounts of drugs

Premier Mike Horgan received his first dose of a COVID-19 vaccine. (Facebook/John Horgan)
More than 50% of people eligible in B.C. have received 1st vaccine dose

‘We’ve made extraordinary progress together over the past few weeks,’ says Premier Horgan

Brad MacKenzie, advocacy chair for the ALS Society of B.C., says having research projects in the province allows people here to have access to cutting-edge treatments now being developed. (B.C. government video)
B.C. funds research chair for Lou Gehrig’s disease at UBC

Pandemic has cut off patient access to international projects

Most Read