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Data show that most of Alberta’s population growth comes from Ontario, while this year Ontario experienced the largest population migration ever recorded, with about 49000 people leaving the province, although 28000 people moved in. but Ontario still has a net population loss of 21000.
Generally speaking, the pattern of immigration to Ontario is generally in line with oil prices, but the population moving in from Ontario is mainly attributed to high housing prices in Ontario.
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In recent years, the housing market in Ontario has become increasingly unaffordable, especially in the Greater Toronto area.
Although global inflation has directly led to the rise of housing interest rates and the decline of house prices in Canada, house prices are still very high for most people.
In Toronto, the average price of an apartment last month was C $648000 for an one-bedroom, C $914000 for a two-bedroom and C $970000 for a three-bedroom.
The average house price in Townhouse for nearly a month is C $926000 for a two-bedroom, C $1.1 million for a three-bedroom, and C $1.4 million for a four-bedroom.
In Toronto in the second quarter of this year, 83% of the average household income was spent on housing costs, according to the RBC report.
But in Calgary and Edmonton, the cost of paying for a house is only 38.8% and 29.3% of average household income, respectively.
According to Smart Prosperity Institute, a national research network at the University of Ottawa.
“if you are a nurse who works in Toronto, you cannot live anywhere near your place of work.”
“but you can get a job in Calgary with a commute of about 10 minutes, which is very convenient and fast for everyone.”
After all, house prices in the province are very approachable, with average prices in cities in the province ranging from C $300000 to C $490000 in August sales data.
The average house price in each city of Alberta is as follows, about C $370000 in Edmonton and C $485000 in Calgary.
After all, house prices are falling all over Canada, but prices in Toronto and Vancouver have been at a relatively high level, and the global economic slowdown has not directly affected the local housing market so quickly.
If you live in Canada, you can consider buying a house in Alberta, because rising interest rates have directly affected house prices in Alberta. By this month, the price of an one-bedroom apartment in Toronto can buy a separate house in Alberta.