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BC province: the province had the largest decline in home sales last year, at-35.3%. By 2023, we can expect some growth in this sector (- 22.8%).
ON province: home sales in the province fell the second largest last year, at-32.7%. This year, home sales are expected to double to-15.5%.
QC province: House prices will fall by 7.4% by 2023, and sales will increase as mortgage rates stabilize.
AB province: home sales are expected to be 20.9% lower than last year, and housing and rents are more affordable than in other major provinces, but house prices will still fall sharply by 5.6% this year.
According to the Immigration level Plan 2023-2025 released by Immigration Canada, Canada will accept 1.45 million new immigrants in the next three years. Among them, 465000 immigrants are planned to be accepted in 2023.
From the perspective of immigrant cities, the areas with more immigrants also seem to be the “hardest hit” of house prices in Canada, such as:
Toronto is the most popular city for immigrants, accounting for 35% of all new immigrants in Canada, and Toronto has the highest housing bubble in Canada, followed by cities such as Vancouver, Montreal, Calgary and Edmonton.
In these cities, house prices in Canada are on the high side. According to the data, the average home price in Toronto is by far the highest, as high as C $921000, followed by Vancouver with an average price of C $878000.