Toronto and London are among the cities most at risk of a housing bubble as economic optimism and low borrowing costs push up property values in urban areas worldwide, according to UBS Group AG.
Vancouver and Sydney were also in the top five in terms of risk, the Swiss bank said in a report published on Thursday.
The report stated the average real annual price rise in Sydney had been 3.5 per cent since 1980, which was the greatest among all the cities featured.
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