Vancouver Housing Posts Biggest Price Gains Since 1990
- New home prices in west coast city up 5 percent in 2nd quarter
- Rebound highlights difficulty in engineering soft landing
The city skyline is seen at night from Stanley Park in Vancouver, British Columbia, Canada.
Photographer: Ben Nelms/BloombergThis article is for subscribers only.
Just as Toronto’s housing market is beginning to slow down, Vancouver’s is roaring back to life.
New home prices in Canada’s most-expensive market jumped 1.5 percent in June, and have gained 5 percent since March, data released Thursday by Statistics Canada show. That’s the biggest three-month increase since 1990. Prices for existing homes are also on fire, gaining 11 percent in the five months through July, according to data released this month by Vancouver’s real estate board.