Canada’s housing and rental markets continue to be a topic of conversation for real estate experts and economists, journalists and media outlets, government officials and the general public.
For years now, many have suggested that Canada’s real estate market is a “bubble waiting to burst” with the slightest change in interest rates or other economic factors. Yet, those predictions continue to be on “stand-by” mode, while housing continues to maintain it’s status on The Economists list of Most Overvalued Real Estate Markets Globally.
RentSeeker.ca, one of Canada’s Largest and Most Visited Real Estate Websites has released a NEW 3-D INFOGRAPHIC Map showing the Average Cost of Housing across Canada with Year over Year Price Comparisons.
- Vancouver -> 2016 Average Cost: $1,093,267 | (+22.6% from 2015)
- Prince Edward Island -> 2016 Average Cost: $194,094 | (+17.1% from 2015)
- Victoria -> 2016 Average Cost: $575,858 | (+13.2% from 2015)
- Toronto -> 2016 Average Cost: $688,181 | (+12.1% from 2015)
- Hamilton – Burlington -> 2016 Average Cost: $486,008 | (+9.5% from 2015)
Cities Showing Top Percentage Decreases Year-over Year:
- Sherbrooke -> 2016 Average Cost: $288,750 | (-16.7% from 2015)
- Windsor -> 2016 Average Cost: $371,223 | (-8.4% from 2015)
- Saint John -> 2016 Average Cost: $154,700 | (-1.8% from 2015)
- Quebec City -> 2016 Average Cost: $259,851 | (-.08% from 2015)
- Calgary -> 2016 Average Cost: $455,220 | (-.05% from 2015)
Let us know what you think about Canada’s real estate markets and share your insights, comments, and predictions by joining the conversation with RentSeeker.ca on Twitter and Facebook!
