Canadian Housing Prices Stable with Regional Variations and Trends in Migration
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Canadian housing prices per square foot have generally remained stable in the first half of the year, with some exceptions indicating a trend of families moving to more affordable communities within their provinces and beyond, according to the recent research Canada’s eighth annual Price per Square Foot survey. The survey, covering nearly 50 communities from January 1 to June 30, reveals trends dating back to 2018 for both larger and smaller markets. Ontario, British Columbia, and Atlantic Canada saw steady prices, with minor gains in smaller markets and suburbs, while downtown condominium prices declined, reflecting a continued migration away from metropolitan centers.
Alberta experienced significant price increases in markets like Calgary and Edmonton, though prices per square foot remain lower compared to B.C., Quebec, and Ontario. Calgary condominium prices rose by over 17 percent, and Edmonton saw nearly a 10 percent increase. High River topped the list with more than a 22 percent increase, yet it remains affordable at $285 per square foot. Conversely, condominium prices in major cities like Vancouver, Toronto, and Montreal saw modest declines.
Read the full article on: REAL ESTATE MAGAZINE
