Canada finance minister says remains concerned about house prices

Canada's Finance Minister Bill Morneau in Ottawa, March 22, 2017. REUTERS/Patrick Doyle

OTTAWA (Reuters) - Canadian Finance Minister Bill Morneau said on Tuesday he remains concerned about the sharp increase in home prices in Toronto and wants to meet with his provincial counterpart, reiterating measures the government has taken amid fears of a housing bubble in Canada’s largest city.

“We remain concerned with dramatic price increases, the implications for the market and the implications for household affordability. So that’s why I’ve asked the Ontario minister of finance, Charles Sousa, and the Toronto mayor to have a meeting so that we can assure we have coordinated policy actions to deal with this ongoing challenge,” Morneau told parliament.

No date has been announced for the meeting between Morneau, Sousa and Toronto Mayor John Tory.

Reporting by Andrea Hopkins and David Ljunggren; Editing by Meredith Mazzilli