Canada’s Best Performing Real Estate Markets Aren’t Toronto Or Vancouver

Posted by Michael La Prairie on Friday, October 19th, 2018 at 6:33am.

Canada’s Best Performing Real Estate Markets Aren’t Toronto Or Vancouver

Canada’s real estate hubs of Toronto and Vancouver are slowing down. Canadian Real Estate Association (CREA) numbers show the price of a typical home in small cities climbed the most over the past year. In fact, the economic suburbs of Toronto and Vancouver have outperformed the cities over the past 5 years.

Vancouver Real Estate Is The Most Expensive In Canada

Vancouver, Oakville, and Fraser Valley are the most expensive real estate markets. Vancouver’s composite benchmark reached $1,070,600 in September, up 2.21% from last year. Oakville, an affluent suburb of Toronto, reached a benchmark of $952,700, up 1.35% from last year. Fraser Valley reached $860,300, up 8.48% from last year. All three of these markets are experiencing rapid deceleration of prices.

Canadian Real Estate Benchmark Price

The price of a typical home in Canada’s largest real estate markets.


Source: CREA, Better Dwelling.

Victoria Real Estate Leads Canada For Price Gains This Year

Smaller cities are outperforming Canada’s largest ones, especially in BC. Victoria made the largest advance with prices hitting $694,200 in September, up 8.71% from last year. Fraser Valley is in second with a benchmark of $860,300, up 8.48% from last year. Guelph was in third with a typical home pricing at $522,300, up 8% from last year. Two of those markets claim agriculture as the top industry, which may have larger economic Implications.

Canadian Real Estate Price Change – 1 Year

The 1 year percent change in the price of a typical home, in Canada’s largest markets.

Source: CREA, Better Dwelling.

Fraser Valley Real Estate Is Canada’s Best Performing Market

Fraser Valley, Niagara, and Vancouver lead the country when it comes to the 5 year trend. Fraser Valley prices have increased a whopping 88.12% over the past 5 years. Niagara saw the second largest gains in the country, with prices up 75.7% is from last year. Vancouver is the third highest, with prices climbing 74.45%. For context, the price of a typical home across all markets is up 44.49% over the past 5 years.

Canadian Real Estate Price Change – 5 Year

The 5 year percent change in the price of a typical home, in Canada’s largest markets.

Source: CREA, Better Dwelling.

Toronto and Vancouver real estate dominates headlines, but don’t have the best returns. Economic suburbs with largely agricultural economies have the biggest climbs. Fans of Henry George and Robert Shiller know what that usually means.


Continue reading Canada’s Best Performing Real Estate Markets Aren’t Toronto Or Vancouver at Better Dwelling Website

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