The rise in Canadian home prices is only surpassed by two other countries according to analysis from Knight Frank.

The UK real estate firm’s global league table puts Turkey at the top with a 13.9 per cent increase in home prices in the year to June 2016, followed by New Zealand at 11.2 per cent. Canada’s increase was 10 per cent.

The report cites Canada’s prolonged low interest rates as the main reason for the double-digit increase in home prices. 

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