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 House Price Rise in Vancouver Mirrors the Problem in Sydney 

The rapid rise in Vancouver’s property prices has drawn comparisons with the housing situation in Sydney, where the average price of homes have become the highest in Australia. The high prices are the result of high demand by wealthy, well-educated immigrants. In the past 15 to 20 years, Vancouver has seen more millionaires immigrate to the city than all of America.

Source: Immigration.ca