Canada's home prices boom compared to other G7 countries: study report

 

Home prices in Canada are reportedly high compared to other G7 countries. This is according to data published by the US Federal Reserve Bank of Dallas on last year's global housing prices. US, France, UK and Italy. Compared to G7 countries Japan and Germany, housing prices are rising in Canada. Housing prices in countries were calculated based on HPI (Housing Price Index).

The data shows that most G7 countries are showing a similar trend. The price rose in 2020 and has been stable since then. But Canada is different. Canada's HPI for the first quarter of 2022 increased by 59 percent to 346.15 compared to the same period in 2022. The price rose 5.5 percent to 306.76 in the 2023 quarter.

The data points out that while there has been a significant increase in US home prices (up 88.1 percent in the second quarter of 2023), it pales in comparison to Canada's growth.