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According to the 2016 list of cities worth buying in Canada, the two Canadian real estate markets, Vancouver and Toronto, have different fates.
The top four cities this year are all Ontario cities, with the northern Ontario city of ThunderBay, also known as Thunder Bay, ranking first, followed by Hamilton, Brantford and Guelph.
Over the past five years, the average house price in northern Ontario cities has risen just C $100000, slightly higher than in other Canadian cities. People wonder why Sandbay is ranked. According to the report’s authors Romana King and Mark Brown, Sandbe residents have significantly higher purchasing power, with an average household income of C $81,000.
However, the average house price in the city is still very affordable: the average house price in 2015 was less than C $216,000, slightly more than the average household income for two and a half years. By comparison, property prices in Toronto seem to be six times the average household income. What about Vancouver? 9.8 times! All over Canada.
Also, over the years, Sandbe has invested a considerable amount of urban construction costs, a hub in northern Ontario, a gateway city from Ontario to Cassi, and a knowledge-based economy, attracting jobs in health, education and government. There are many colleges and universities in Sandbay.
Including Northern Ontario Medical Department (Northern Ontario School of Medicine), there is a huge number in Sandbay, which has risen by 22% in the past five years. What is really shocking in this year’s ranking is Vancouver, which rose to fifth place this year from 18th last year. To be honest, it has little to do with the value of real estate in Vancouver.
Vancouver’s ranking fanatic lost its value due to the collapse in oil prices in some other cities, and British Columbia’s GDP grew by 3.14%, yes, while Vancouver’s unemployment rate was only 5.9%. All this, Vancouver’s west coast city has better prospects.
By comparison, Toronto is more disappointing, with the economy in the doldrums, falling by 3 places to 15 places. Toronto’s average property price (including detached houses and apartments) was 62046 in 2015, with an increase of 15.3% over the past five years, with a vacancy rate of 1.6% and a ratio of 0.51% to property prices.
However, the Greater Toronto property market is quite hot, with turnover accounting for 63.1% of new listings in the past year, and 5.9% of new listings are expected to have 7.6% space in five years. Another Chinese settlement city! Montreal was disappointed, ranking fourth from the bottom of Canada.
Quebec has just released data on population migration in the province, which shows that in Quebec, more and more people are leaving the city and moving to the suburbs, but in the heavily populated city of Montreal, where 53000 people left the city between 2014 and 2015. At the same time, only 38000 people moved in, reducing the number of people at the entrance of Mengcheng by 15000, and Montreal’s current population is about 2 million.