The cost of housing continues to climb in this country but where are the real deals for the fledgling first-time homebuyer? Hint: In future days, steer clear of the Prairies.
The Victoria Times-Colonist tells us the cost of housing in British Columbia’s capital city has doubled in the last decade and that reality is reflected in cities across Canada. Citing the Housing Evolution Report, the Times-Colonist found the average price for all types of housing in the Greater Victoria region climbed by 123 per cent to C$504,561 in 2010 from $225,731 in 2000.
It’s no secret that Toronto is the North American condo king. Maybe T.O. is the new Dubai given the number of high-rise towers being raised. Regardless, the National Post says from 2000 to 2010, the average value of a Canadian home doubled, rising to $339,030 from $163,951. The money involved is huge, with the value of residential building permits issued across Canada in the past decade pegged at $340 billion.
The Post also identified Winnipeg as the future real estate hot spot and it has nil to do with that city landing an NHL franchise in recent months (though you might expect that to be a factor in Canada).
“Winnipeg is seen as having the biggest potential for future growth, as it leads the nation with having the largest stock of older homes. More than half of the city’s owned housing was built before 1970.”
The Montreal Gazette, said Regina leads nationally with.


