Very little passes as shocking news in Vancouver’s real estate market these days.
So when a recent Australian report stated that Vancouver’s home prices have been rising at the third highest rate in the developed world*, we really weren’t surprised. (Of course, we still cried a little.)
A global real estate analysis by CoreLogic was made for Sydney’s Saturday Telegraphto reveal Sydney’s median home pricing in comparison to other cities.
The report shows that while Sydney’s median home price grew 18.4% over the past year, beating New York’s annual growth of 11.5% and London growth of 6.2% But it was our friends out east, Toronto that reigned supreme with a costly 19% growth.
Following Sydney in third spot is our very own Vancouver, which saw a growth of 14%.
The top five was rounded out by Melbourne at 13.4% and New York at 11.5%.
*Note that the “analysis excluded cities with a population under one million.”