22 Aug Home prices in Canada outstripped rest of G7 over the last 15 years

Home prices in Canada outstripped rest of G7 over the last 15 years

According to a new analysis by industry information portal Better Dwelling, Canadian real estate prices have grown nearly 3 times the rate of any G7 country over the last 15 years. 

Annually, national real estate prices have increased 3.39% during the first quarter, outstripping the United States’ year-over-year growth of 3.29%.

Phil Soper, CEO of Royal LePage recently said in an interview with the Financial Post that doomsaying predictions about the Canadian market are overblown. “There are a lot of people who are looking to put roofs over their heads,” said Soper. “We just don’t see the number of homes for sale, the supply side of this, climbing to the point where home prices will collapse.”

Royal LePage’s predictions pegged annual growth by year-end at 2.5%.