Guess who made the list?
At Number Five – TORONTO, Ontario:
12-month increase: 12.0%
3-month increase: 1.2%
Foreign investment and a relatively low Canadian dollar have been blamed on soaring house prices in Canada’s major cities in recent years. The 3-month change in Toronto slowed in the past three months to +1.2%, however, compared to a 12-month change of +12%.
Taxiarchos228 / Wikimedia Commons
At Number One – VANCOUVER, B.C.:
12-month increase: 31.6%
3-month increase: 1.5%
The city, which has a population of 603,000, is highly popular with Chinese investors. In August, the province of British Columbia introduced a controversial 15% levy on foreign purchases of homes in the Vancouver Metro area to tackle the problem, and it seems to have worked. The 3-month change in the city was just +1.5%, compared to a 12-month change of +31.6%.
Surprisingly or not, no European or U.S. cities made the the top of the list.