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Summary

Home Prices In Canada Are Going From Pricey To Pricier But 3 Countries Still Have It Worse

Guess that rules out moving to Russia! 😬

Home Prices In Canada Are Going From Pricey To Pricier But 3 Countries Still Have It Worse
Dave Sartin | Dreamstime
Staff Writer

If you thought Canada's home prices were getting expensive, just be thankful you don't live in one of the three countries that have it worse!

The National Bank of Canada released its latest Housing Affordability Monitor on November 9, 2021, and it included a roundup of countries whose home prices are skyrocketing. Surprisingly enough, Canada's not even in the top three!

Canada's home price percentage change — from this time last year to now — is sitting at a hefty 18.6%, good enough for fourth in the world and ahead of the U.S. (17.4%), Germany (10.9%) and Great Britain (10.7%).

But that pales in comparison to the top three. In third is New Zealand, with a 20.7% home price percentage change. The country is topped by Russia, at 21.1%, but both are left in the dust by Turkey, which had a home price percentage change of a staggering 30.2%!

Unfortunately for Canadians, the NBC reports that housing affordability has only gotten worse in Canada since the beginning of the year — according to the bank, the past year was the worst year for affordability in a decade.

From Your Site Articles
housing affordabilitycanada home pricescanadian housing market
Real EstateCanada
  • Cormac O'Brien
    Cormac O'Brien was an Associate Editor at Narcity Canada, covering all things exciting and trending about Canada. He has a Bachelor of Fine Arts in Creative Writing and Journalism from the University of Victoria, where he served as the Editor-in-Chief of the campus newspaper and was awarded the BCYNA Community News Scholarship for his writing. He was also the producer and co-host of Now On Narcity, Narcity's flagship podcast.

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