In spite of several measures to calm the rise in the real estate market in the Vancouver area, new data again darken the picture.
The New Housing Price Index for June 2017, released this week by Statistics Canada, shows that they have increased by 6.2% in 12 months.
“The last time the [ New Home Price Index ] rose more than 6.2%, it was June 2010,” Statistics Canada analyst Rohit Verma said.
He said that the information comes from monthly surveys of construction companies and their contractors, which however exclude new condominiums.
The agency has data going back to 1981.
David Krekorian is the lead editor for Island Daily Tribune. David has written for several publications including The Guardian – Charlottetown, Barstool Sports and CBC News. David is based in Charlottetown and covers issues affecting the the island. When he’s not busy writing, David enjoys fishing and kayaking.