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As telecommuting becomes more common, first-time buyers are looking for more affordable markets outside big cities such as Vancouver and Toronto, and unexpected places have become hot real estate markets.
Through CREA’s November 2021 national price map, we can find some of the cheapest real estate markets in different provinces of Canada, where the full price of a property is less than the down payment on a Vancouver house.
In BC province, the average house price in November 2021 was $992844, the highest in Canada. Even so, some of the cheapest houses in Canada can still be found 1150 kilometers north of the province.
In the South Heping River housing market, which includes the villages of Dawson Creek, Chetwynd, Tumbler Ridge and Pouce Coupe, the average selling price in November 2021 was $289519, up 12.5% from November 2020.
In Alberta, the average house price is $429543 in November 2021, and the cheapest housing market is in the south-central part of the province, about a two-hour drive east of Calgary.
The area includes Brooks, Drumheller and Hanna. Here, the average house price in November 2021 was $250913, up 5.9% from the previous year.
The average house price in sa province is $284700, which is one of the cheapest housing markets in Canada. In Prince Albert, about 140km northeast of Saskatoon, the average house price in November 2021 was $189900, up 7.2 per cent from the previous year. The real estate here is so cheap that you can easily become a homeowner before you are 40.
In Manchester province, the average house price in November 2021 is $333046. The cheapest major housing market here is Portage la Prairie, about 85 kilometers west of Winnipeg.
In November 2021, the average price of a house here is $180360. However, this was 16.4% lower than the previous year.
Perhaps it is more worthwhile to spend a little more money on a house in Winnipeg, because house prices in Winnipeg are up 12.8%, but still below average. The average house price in this prairie metropolis is $320000, which is enough to buy a three-bedroom house.
As in BC province, if you want to find the town of comfortable housing in Ontario, you need to drive north. In Timmins, Cochrane and Timiskaming, the average house price in November 2021 is $249536, less than 1/3 of the province’s average price of $922580.
However, unlike many of the cheapest markets in Canada, prices here are up 39.2% from the previous year.
In Quebec, the average house price in November 2021 is $471195. The cheapest major housing market here is in Saguenay, about 200km north of Quebec City, where houses sell for an average of $225282, up 7 per cent from the previous year.
