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.
