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In order to make more people see clearly when they can own a house of their own (or that they will never be able to afford it), a famous rental website did Lei Feng for everyone to count the average house prices in major cities in Canada, as well as the increase compared to last year.
Obviously, numbers don’t lie. After reading it, the editor decided to make a deep bow to his friends in Vancouver and Toronto first. It’s not easy for you! Please seriously consider which city to buy a house in, and you can also consider moving when necessary.
According to the chart, the average house price in Toronto rose by 12.1%, to $688181 from $613933 last year. As for Vancouver, prices have risen by 22.6%, the highest in the country, and the average house price has exceeded 1 million ($1093267) this year.
But the increase in the two cities is to be expected, but house prices on Prince Edward Island are also skyrocketing. The average house price on Prince Edward Island has increased by 17.1% over last year! Even the province of new Brunswick has grown by 6%.
Although the figures look scary, CREA (Canadian Real Estate Association) points out that house price increases in Vancouver and Toronto have slowed. Property sales in Vancouver fell 1% from March to April, and property sales in Toronto did not grow significantly in April.
Of course, there are more cost-effective cities in Canada. The average house in Sherbrooke, Quebec is down 16.7% from last year, and now you can buy a house for as little as $288750. House prices in Windsor, Ontario also fell by 8.4%. In addition, the increase in the surrounding areas of the real estate hot cities is not too big, so we can’t afford Toronto or Vancouver, so let’s try our luck in Hamilton, Abbotsford and Victoria.