Canada, NZ homes most expensive: Deutsche Bank

London

CANADA, New Zealand, Belgium and Australia are in the top ranks of the developed world's most overpriced housing markets, according to Deutsche Bank AG.

Homes in Canada are the most expensive, being 63 per cent overvalued, the bank said in a survey ranking Organization for Economic Co-operation and Development (OECD) countries' markets. The measure reaches 56 per cent in New Zealand, the second-most priciest, 53 per cent in Belgium and 49 per cent in Australia.