Price Ranges for Canadian Homes

Posted on 07 July, 2015

According to a June 2015 report by the Canadian Association of Accredited Mortgage Professionals, Canada’s average price for a home is $347,361. Ontario, B.C and Alberta are the three most expensive provinces to buy in, while the Atlantic Provinces, Quebec and Manitoba are the least.

A whopping 23% of homes in the Atlantic region are under $100,000, compared to just 5% in Alberta, where the most common price range for homes falls between $400,000 and $449,000.

Despite having only the third highest average home price, Alberta’s labour force boasts the highest wages in the country. Other factors to consider with regards to the Alberta housing market are the recent increase in housing affordability, and the low interest rates set forth by mortgage lenders. For more information, feel free to contact one of our certified Brokers today!

Sources:

  • http://caamp.org/meloncms/media/Spring%202015%20Survey%20Report.pdf
  • http://www.atb.com/learn/economics/Pages/the-owl.aspx?aid=31
  • http://www.marketwatch.com/story/alberta-housing-affordability-improves-following-oil-price-plunge-rbc-economics-2015-06-22


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