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Here’s a piece of good news for Montreal’s homeowners and bad news for anyone waiting to get on the property ladder: house prices are very much on the rise in the Montreal area.

The median price of a home in Montreal has gone up by more than $20,000 in the last year, according to Royal Lepage’s most recent House Price Survey.

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After recording a 5.9-per-cent uptick in the fall, Royal Lepage expects Montreal to outperform other major Canadian cities.

This is not a phenomenon limited to one part of the city or type of housing; it’s happening everywhere and with every type of home.

In this video, we explore the dynamics of Montreal’s booming real estate market and consider various solutions that have been proposed to make it affordable.