Toronto : Ottawa : Ontario : Vancouver : Calgary : Edmonton : Ottawa : Montreal : Halifax : Nova Scotia
Average House Prices In Canada
Traditionally, one of the major attractions of a move to Canada for many people has been the cost of housing compared with their current location.
A House in Rural Ontario
This particular attraction has faded in recent years, because the strength of the Canadian dollar means new arrivals have less purchasing power than they had in previous years.
House prices in Canada have continued to rise, while prices in many other countries have either changed little or fallen.
Prices are higher in Canada’s big cities than they are in the surrounding towns and rural areas.
Canada’s highest house prices are found on the west coast in Vancouver/British Columbia, where the country’s mildest weather is found.
Severe winter weather or remoteness from major markets usually results in low house prices – for example property prices are low in Manitoba and Prince Edward Island.
In 2007 prices in booming Alberta rose above prices in Ontario for the first time and, in the same vein, prices in Calgary rose above those in Toronto.
By 2011 the situation had reversed, and once again Toronto and Ontario homes cost more than in Calgary and Alberta.
House price rises have been modest in Canada in 2011 and 2012, partly due to new, stricter mortgage rules that have been introduced.
Canadian Cities Average House Prices December 2012
| City | Average House Price | 12 Month Change |
|---|---|---|
| Vancouver, BC | $684,000 | - 0.8 % |
| Toronto, Ont | $479,000 | + 6.0 % |
| Calgary, Alb | $420,000 | + 6.9 % |
| Ottawa, Ont | $337,000 | + 0.5 % |
| Montreal, Que | $331,000 | + 3.5 % |
| Regina, Sask | $318,000 | + 15.9 % |
| Halifax, NS | $269,000 | + 5.8 % |
| Fredericton, NB | $174,000 | + 3.0 % |
Canadian Provinces Average House Prices December 2012
| Province | Average House Price | 12 Month Change |
|---|---|---|
| British Columbia | $498,000 | - 3.0 % |
| Ontario | $369,000 | + 3.6 % |
| Alberta | $363,000 | + 4.8 % |
| Quebec | $274,000 | + 3.6 % |
| Saskatchewan | $284,000 | + 9.6 % |
| Newfoundland / Labrador | $289,000 | + 11.5 % |
| Manitoba | $250,000 | - 3.7 % |
| Nova Scotia | $205,000 | - 8.8 % |
| Prince Edward Island | $165,000 | + 28.6 % |
| New Brunswick | $151,000 | - 1.4 % |
| Canadian Average | $353,000 | + 1.6 % |
Prices from The Canadian Real Estate Association