{"id":5883,"date":"2017-05-19T10:10:10","date_gmt":"2017-05-19T17:10:10","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=5883"},"modified":"2017-05-17T19:36:34","modified_gmt":"2017-05-18T02:36:34","slug":"vancouver-overheating-spilling-over-to-surrounding-cities","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2017\/05\/vancouver-overheating-spilling-over-to-surrounding-cities\/","title":{"rendered":"Vancouver Overheating Spilling Over to Surrounding Cities"},"content":{"rendered":"<p style=\"text-align: justify;\">The latest report from the federal housing bureau revealed that the cost of housing in Vancouver is inflaming price growth rates in the surrounding metropolitan markets.<\/p>\n<p style=\"text-align: justify;\">Released late last week, the Canada Mortgage and Housing Corporation\u2019s study found that on average, a 1% rise in Vancouver residential real estate prices triggered a 0.5% uptick in Burnaby and Richmond, as well as a 0.7% increase in the North Shore.<\/p>\n<p style=\"text-align: justify;\">The study looked at Vancouver\u2019s spillover effect from 1991 to 2016. The report added that even cities beyond commuting distance saw the impact of the city\u2019s price increases, Reuters reported.<\/p>\n<p style=\"text-align: justify;\">CMHC cautioned that the phenomenon is not unique to Vancouver, as the country\u2019s hottest urban market, Toronto, has also been deemed responsible for fevered home price growth in its outskirts\u2014a development that has led to the Ontario government implementing its own foreign buyers\u2019 tax in April.<\/p>\n<p style=\"text-align: justify;\">The results corroborated the latest data from Statistics Canada, which found that the overheated Toronto and Vancouver markets continue to inflame national home price growth. Average prices in the Canadian residential real estate market increased by 0.2% in March from February, with Toronto prices growing by 0.2% and Vancouver up by 0.7% in the same time frame.<\/p>\n<p><a href=\"http:\/\/www.canadianrealestatemagazine.ca\/news\/cmhc-vancouver-overheating-spilling-over-to-surrounding-cities-225642.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">CMHC : Vancouver Overheating Spilling Over to Surrounding Cities<\/a> by Ephraim Vecina | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The latest report from the federal housing bureau revealed that the cost of housing in Vancouver is inflaming price growth rates in the surrounding metropolitan markets. Released late last week, &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2017\/05\/vancouver-overheating-spilling-over-to-surrounding-cities\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-5883","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Vancouver Overheating Spilling Over to Surrounding Cities &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2017\/05\/vancouver-overheating-spilling-over-to-surrounding-cities\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Vancouver Overheating Spilling Over to Surrounding Cities &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"The latest report from the federal housing bureau revealed that the cost of housing in Vancouver is inflaming price growth rates in the surrounding metropolitan markets. 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