While sale prices were up 2.8 per cent from a year ago in Alberta's capital city, average costs still only peaked at $452,849. Photo by Shaughn Butts/Postmedia files

Canada’s two most expensive cities for housing are not building enough new homes , and that is driving people to Edmonton , according to the deputy chief economist of Canada Mortgage and Housing Corp .

Aled ab Iorwerth said data already shows an influx of people moving from Vancouver and Toronto to the Alberta capital, and it’s only going to get worse if more supply isn’t created in the two cities that regularly clock in as Canada’s priciest.

“It’s already happening,” said ab Iorwerth, in an interview with the Financial Post following a presentation at the Veritas Great Canadian Real Estate Conference this wee

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