Vancouver housing market coincides with Chinese economy
Posted July 9, 2012 12:16 pm.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – The ups and downs of the Vancouver housing market coincide with those of the Chinese economy for the past two decades, according to a think-tank economist.
“There is a clear correlation between Chinese immigration and real estate activity in Vancouver,” notes Robin Wiebe with the Conference Board of Canada.
He says Chinese immigration peaked in 2005 and “was matched by a peak in existing home sales.”
“Chinese wealth probably has a larger affect on the Vancouver housing market than immigration numbers alone suggest, since Chinese investors can buy homes here while remaining there,” adds Wiebe. That’s something Australia doesn’t allow.
