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Analyzing the house price boom in the suburbs of Canada’s major cities during the pandemic

Author

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  • Louis Morel

Abstract

We assess how location affects house prices in Canada. The gap in prices between suburbs and downtown was closing gradually before the pandemic. The gap has been closing faster since spring 2020. This finding reflects a shift in preferences toward more living space.

Suggested Citation

  • Louis Morel, 2022. "Analyzing the house price boom in the suburbs of Canada’s major cities during the pandemic," Staff Analytical Notes 2022-7, Bank of Canada.
    • Handle: RePEc:bca:bocsan:22-7
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    File URL: https://www.bankofcanada.ca/2022/06/staff-analytical-note-2022-7/
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    More about this item

    Keywords

    Asset pricing; Coronavirus disease (COVID-19); Financial stability; Housing;
    All these keywords.

    JEL classification:

    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R23 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population
    • R32 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Other Spatial Production and Pricing Analysis

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