Evaluating Immigration's Impact on Housing Prices in Canada

A recent study by the Canadian government highlights the modest impact of immigration on housing prices and rental rates across the country. Conducted by Immigration, Refugees and Citizenship Canada (IRCC), the research reveals that new immigrants account for a small portion of the rise in home prices and rents from 2006 to 2021, particularly in large urban centers.

Key Takeaways

While immigration contributes to some increases in housing prices and rents, its impact is minor compared to other factors like local housing supply, economic conditions, and housing policies. The effect is mainly observed in large urban areas such as Toronto and Vancouver. The study emphasizes the necessity for building more housing to keep up with population growth and economic demands.