The average price of homes in Canada is rocketing up but it is really a story of two cities and the foreign money they attract, say analysts. The January value of a re-sale home increased by 17 per cent to $470,297 over a year ago. But this is deceiving because outside of Ontario and B.C. (Toronto and Vancouver) the gains in price are much lower, says the Canadian Real Estate Association. Strip the two cities out of the numbers and the average Canadian home was worth $338,392 last month while the year-over-year gain drops to eight per cent.
