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In February, the month-on-month increase in new home prices across the country reached a 30-year high. The latest house price index of the Canadian Real Estate Association (CREA) shows that house prices across the country have risen by 17% in the past 12 months. House prices have risen by 30% in some provinces. According to a new poll, more than half of Canadians believe that house prices in their cities will continue to rise in the next six months, and such a generally bullish market psychology will undoubtedly lead to growing panic about home purchase mistakes.
Ms. Li, a client in Canada, also sent her text message: “I have never seen anything like this in my eight years of living in Canada. I can’t sell a house with a price increase of 20% or even 30%.” She said that due to the small supply of housing this year, coupled with the fact that residents received too many subsidies during the epidemic, all kinds of houses were robbed of offer as soon as they were listed on the market, and the price increases greatly exceeded the expectations of the owners.
According to the latest news from customers as far away as Canada, we also confirm that house prices in Canada rose twice as much as the long-term average last year. Especially in rural areas far from urban areas, house prices are skyrocketing. With this development, will house prices continue to rise to new highs? On the basis of this, the editor analyzes the main reasons for the sharp rise in house prices in Canada.
