Canadian House Prices

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.

Home in Rural Ontario
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 were modest in Canada in 2011 and 2012, partly due to new, stricter mortgage rules that were introduced.In 2013 and 2014 house prices rose steadily in Vancouver and Toronto.

In 2015 and 2016 house prices in British Columbia and Ontario continued to rise above the national average. In Alberta house prices are relatively stable in 2016 after falling in 2015.

In 2017 house sales have fallen in Canada and prices have stabalised in most provinces.

A 20% down payment rule came into effect in 2018 and together with a stress test on mortgage applications house prices are expected to ease slightly.

Canadian Cities Average House Prices April 2018

CityAverage House Price12 Month Change
Vancouver, BC$1,092,000+ 14.3 %
Toronto, Ont$766,000– 5.1 %
Calgary, Alb$431,000 + 0.1 %
Ottawa, Ont$382,000+ 8.3 %
Montreal, Que$341,000+ 6.3 %
Halifax, NS$316,000+ 2.4 %
Regina, Sask$276,000– 6.5 %
Fredericton, NB$173,000+ 1.2 %

Canadian Provinces Average House Prices April 2018

ProvinceAverage House Price12 Month Change
British Columbia$730,000 + 0.2 %
Ontario$578,000– 13.0 %
Alberta$387,000– 4.9 %
Quebec$297,000+ 3.1 %
Manitoba$296,000+ 0.4 %
Saskatchewan$288,000– 6.5 %
Nova Scotia$249,000+ 1.6 %
Newfoundland / Labrador$246,000– 3.7 %
Prince Edward Island$230,000+ 18.4 %
New Brunswick$178,000+ 10.2 %
Canadian Average$495,000– 11.3 %

Prices from The Canadian Real Estate Association