"It wasn’t that long ago that people were coming out of school and leaving. Now they’re staying, or even going to school somewhere else and coming here."

Prime Minister Justin Trudeau said last year his government would introduce such a tax, praising a similar measure in British Columbia during his most recent election campaign.

The protections for renters will be in place until Feb. 1, 2022, or until the state of emergency is lifted, whichever is sooner.

The average national home price rose 15 per cent compared to the same month last year, the association said.

Homes sales in the Central Okanagan, North Okanagan and Shuswap-Revelstoke region have risen dramatically from this time last year.

The average sale price of a home in Hamilton and Burlington in October was $721,523, an increase of 0.02 per cent from September, and up 19.8 per cent from October 2019.

Canada's economic trajectory has split into two. Economists are calling it a "K-shaped" recovery.

Home sales set a new all-time record for the third month in a row.

Kingston, Ont., landlords see many out-of-town tenants working and studying from home due to the pandemic—causing a surge in vacant rooms and houses.

The latest numbers saw London-area homes sell for an average of $527,000 in September.