July 07, 2016 | Mike Hager
Quoted from the article:
NDP Leader John Horgan called that claim absurd and noted that the government likely captured less than half of all foreign buyers because the data were self-reported and didn’t take into account numbered companies that purchased property.
The percentage of foreign buyers in the market is likely 10 to 15 per cent, NDP housing critic David Eby argued, based on income data from the 2011 census and a recent City of Vancouver study on empty homes.
Year-over-year growth in the price of Greater Vancouver’s detached houses hit 38.7 per cent last month, up from 24.3 per cent in December. In Toronto, prices for single and semi-detached houses increased about 20 per cent in June from a year earlier.