Toronto 
Zoocasa, a full service brokerage, analyzed the average home price in 20 regions across Canada to find pockets of affordability as the average cost of a home in Canada remains unaffordable for many, with a price tag of $662,437.
Credit: Zoocasa
Zoocasa’s analysis found that 14 markets were below the national average, with Saint John being the most affordable region with an average home price of $268,400.
The average home prices in Greater Vancouver, Greater Toronto, and Fraser Valley are well above the national average. Greater Vancouver’s average home price of $1,123,400 is nearly double the national average, while Greater Toronto’s is $1,091,300, not much lower.
Calgary, Saskatoon, and Halifax-Dartmouth were the only regions with positive year-over-year changes in home prices, while London and St. Thomas experienced the largest year-over-year decrease at -25.1%.
Credit: Zoocasa
A recent study finds there are just two cities (among 20 cities) where buying is cheaper than renting.
Another report by Henley & Partners finds that Canada is one of the top 10 wealthiest countries in terms of total private wealth. One of the reasons behind this is the high house prices, which unfortunately put young Canadians at a disadvantage in buying a home.
