Mike Cassese/Reuters

In the newest monthly report, the Canadian Estate Association pointed out that the average selling price of a house in Canada has increased 8.5 percent compared to last year. Vancouver is one of cities in Canada that its price has rised most rapidly.

One reason I think that house price keeps growing is the continuous increase population in Vancouver. More and more immigrants continue moving to Vancouver so that the demand of houses keep rising. Also, city of Vancouver is closer to Asia than cities in Eastern Canada. Vancouver is also famous for its landscape, immigrant culture and modern life. Considering above reasons, new immigrants are more willing to live in Vancouver. Therefore, with limited supply of housing and unlimited demands, the house price in Vancouver reminds high and keeps going up. I believe the incredibly high house prices are already foaming. Any economic changes may lead to a crash in the Vancouver house market.

CBC News: Average house price in Canada rises 8% to $391,820

http://www.cbc.ca/news/business/average-house-price-in-canada-rises-8-to-391-820-1.2427778