Vancouver home prices resume stubborn climb to fresh record

Ottawa

VANCOUVER home prices climbed back to a record in May, suggesting the impact of a foreign-buyer tax imposed last year is fading.

Benchmark prices in the west coast city reached a record C$967,500 (S$994,867), up 8.8 per cent from a year earlier, the Real Estate Board of Greater Vancouver said on Friday. Average prices for single detached homes hit C$1.831 million, the most ever.