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New Immigrants Spending $620,000 More on Vancouver Houses

  • Detached homes bought by recent arrivals average C$2.3 million
  • Statistics Canada analyzes demographic patterns in housing
Aerial Views Of Canada's Most Densely Populated City As Investors Lift Canadian Commercial Real Estate To Record Quarter
Photographer: James MacDonald/Bloomberg

Vancouver homes purchased by recent immigrants are worth a third more on average than those owned by Canadians, a government study found.

People who moved to the Pacific coast city between 2009 and 2016 own 5 percent of the detached properties, which are worth C$2.34 million ($1.76 million) on average, or C$824,000 more than those owned by people born in Canada, Statistics Canada reported Tuesday. The gap in Vancouver prices is much larger than for immigrants who arrived earlier, and the same pattern doesn’t hold for Toronto, the agency said.