Blogs & Comment

Canada's most expensive real estate markets

These 10 cities boast the most expensive homes in Canada, and the three worst are in B.C.

MoneySense, one of our sister magazines, put out its popular Canada’s Best Places to Live list last week, which I contributed to online. In doing so, I stumbled upon some interesting data—such as average house prices for 190 Canadian cities.

I’ve gathered the 10 most expensive, which are located in B.C., Ontario and Alberta. It should be noted, however, that the data you see on the MoneySense website doesn’t appear to mesh with mine; that’s because their affordable housing metric takes into consideration the average income of a city’s residents and weighs that against local housing prices. (Doing so makes B.C. look even more unaffordable.)

I’m just looking at the raw house prices. Though, predictably, Vancouver comes in last no matter how you measure it—by a pretty large margin, too. Homes there are going for an average of $857,400, blowing away the competition. Being a Vancouver native myself, perhaps I should be grateful I moved to Toronto. The big smoke I now call home is only the 17th most expensive place to live, with homes averaging at $474,300.

UPDATE: For a list of the most expensive neighbourhoods, click here.