Economy Lower Incomes

Review escalating home prices in high-priced markets.

Liberal Platform Page 8 October 5, 2015
Achieved
May 2018

Examining Escalating House Prices in Large Canadian Metropolitan Centres

Canada Mortgage and Housing Corporation May 24, 2018

The Minister of Families, Children and Social Development asked CMHC to study the causes of rapidly rising home prices in major metropolitan centres across Canada since 2010. In fulfilling this task, we have performed advanced, data-driven quantitative and statistical analyses, and engaged with stakeholders and government partners. This report elaborates on our analytical results. We concentrate in our analysis on the period of escalating home prices from 2010 until 2016, prior to the imposition of policies by provincial governments.

Mar 2016

2016 Federal Budget

2016 Federal Budget March 22, 2016

Chapter 8 > Studying Housing and Household Indebtedness

Households rely on housing market data to make informed decisions in buying and selling their homes, while governments depend on data to design effective housing policies. Currently it is not possible to fully understand the role of foreign homebuyers in Canada's housing market since a comprehensive and reliable data set on the number of homes sold to foreign homebuyers does not exist.

Budget 2016 proposes to address this data gap by allocating $500,000 to Statistics Canada in 2016–17 to develop methods for gathering data on purchases of Canadian housing by foreign homebuyers. This initiative could involve collaboration with the provinces, such as British Columbia, which recently announced its intention to have homebuyers disclose whether they are citizens or permanent residents of Canada or another country.