Canadian property market (Apra, 2 major cities new Stress test) carbon copy of Australia

Interesting that Canadian market and Australian market have so many similarities.

We ahd APRA introduce measures Canda now has a new Stress tests (simillar)


We relay heavily on mining and resources they do as well.

We ahve to major markets Sydney and Melbourne they have Toronto and Vancouver . We overheated in both so did they.
Goverments introduce similar prudential rules to cool the two major markets of Canada.



Similar complaints that the FHOB cant get into the market.

Market has dropped 14% in the two major cities.


Although interesting that the rest of Canada outside the 2 markets didnt move at anywhere the pace of the 2 largest cities.

A bit off issues with a national strategy applying to all markets some of which were cool to begin with.

 

Both markets have a huge influx of Chinese people and money.

 

Average price of detached house in Vancouver is $1.8M so even a 14% drop makes average price $1.5M, so their price is way more expensive than Sydney

 

The median household income (after-taxes) in North Vancouver is $52,794, a bit lower than the national average at $54,089 2011 YEAR

but INTERST RATES HAVE BEEN ALOT LOWER THAT Australia so it seems that the reason people were able to service?