Over the past 5 years, Canadian provinces have witnessed a substantial shift on the real estate market terrain. Up to 44% increase in property prices has been observed in some metropolitan cities across Canada. With an average price of CAD$1,062,100 for a dwelling, Vancouver continues to sit on the throne of the most expensive city in Canada. Oakville comes in as the runner-up at CAD$958,700.
5 Year change in prices across Canada
Fraser Valley, British Columbia, displays one of Canada’s most spectacular landscape, and also, the highest change in property prices as well. With an increase of 87.4 in property prices, Fraser Valley has made the biggest property price gain in Canada so far.
Niagra area comes in second place. The change in property prices over the year was recorded at 76.12 percent.
Worst Performers
Regina has a very modest average dwelling price at 277,100, while Saskatoon has recorded a drop to 295,100.
Rea Estate Views
Immigration influx, government spending, economical recovery in general is posing as an incentive and is creating a sense of security to foreign capital, US investors and new immigrants to invest in the real estate market.
