The west coast city has been the focus of debate over whether such lofty price increases are sustainable or whether costs are being boosted by overseas buyers.
Indeed, it was referenced among the litany of risks laid out by Fairfax Financial CEO Prem Watsa is his annual letter to shareholders.
"Canadian housing prices, particularly in Toronto and Vancouver, have gone up significantly, driven by lax policies at CMHC, " he wrote, in reference to the country's top housing watchdog.
"Canadians have accessed their increasing real estate wealth through lines of credit easily available from the banks. Sounds familiar? This is exactly what happened in the United States before the financial crisis in 2008/2009."
Canada's housing market growth has been robust in the years since the global financial crisis, partly boosted by cheap borrowing costs. But a more varied market has emerged recently, with price gains continuing in the hot markets of Toronto and Vancouver, with the energy-sensitive regions slowing, and the rest of the country plodding along.
Indeed, in Calgary, prices fell 0.9 percent in February and were 3.3 percent lower than a year ago. Home prices in the city are down 5.4 percent from their peak in October 2014.
=Canadian-home-prices-rise-in-February-boosted-by-Vancouver
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