September 15, 2020. Over the last decade, the Canadian real estate market has been one of the hottest real estate markets in the world. $517,800 September. QUEBEC Quebec is the second most populated province in Canada after Ontario, so it might be a surprise that it comes in sixth place when considering the cost of the average home. The average rent in Ontario over the past six months on Rentals.ca has been $2,038 per month for all property types, this is a decline of 12% annually. Toronto is second with year over year increases of 14.1% despite the impact of COVID-19. This statistic is not included in your account. Since most of us don’t have the money to buy a house on a whim, most home owners will still need home insurance anyway. There can be privately owned units and spaces inside the building. $463,100 March. House price data sources: see the Data FAQ | House Price Time Series. It can also include fixtures built or installed as part of the original construction of each unit, even though these may not be common structures. Once again, Windsor, Ontario saw the largest growth across all of Canada as the price of a one bedroom apartment increased by 5.3% to $800. It also does not cover the damages made by individual unit owners, such as in the case of water damage caused by a unit owner. According to the Canadian Real Estate Association (CREA), the average house price in January 2019 was $454,776, down 5.5 per cent from the average in January 2018. Housing Under Construction: 274,394 units (Q2 2020), Housing Completions: 46,664 units (Q2 2020), Investment in Residential Construction: CAD $8.4 billion (Q2 2020), Investment in Non-Residential Construction: CAD $4.9 billion (Q2 2020), As reported by Statistics Canada and the CMHC. CREA. In Edmonton, a home will set you back $357,126 on average, but if you are looking to save even more money whilst still having a busy city life, a home in Lethbridge will cost you $264,483. Cost Of Living; Cost of Living Comparison ... City Centre: 21.28: Price to Rent Ratio - Outside of Centre: 17.66: Gross Rental Yield (City Centre): 4.70%: Gross Rental Yield (Outside of Centre): 5.66%: Currency: Sticky Currency Switch to metric measurement units. So the national average evens out the high prices in Ontario and B.C. The ideal entry-level account for individual users. Prices and sales volume have surged far beyond the initial declines in March and April. Plexes are multi-story buildings with two to four individual units, usually one on each floor. You might be familiar with their trademarks: MLS®, Multiple Listing Service®, and REALTOR®. So for those wondering where to buy a house in … It is a residential building that stands alone and is separately titled or legally a single unit. Other notable councils include RECA (Alberta), SREC (Saskatchewan), and OACIQ (Quebec). Learn more about how Statista can support your business. There are still some places where housing prices have increased in the last 12 months. National Bank releases a monthly house price index composite of 11 cities. They can be low-rise, mid-rise, or high-rise buildings. The number reflects increased activity in Ontario and Quebec, where activity was up by 9% and 11% respectively. Condo apartment: This category includes all apartments and condominiums. Townhouses: A townhouse is the middle between a detached/semi-detached home and a condo apartment. Any analysis or commentary is the opinion of the analysts at WOWA.ca and should not be construed as investment advice. MLS® HPI: The MLS® Home Price Index (HPI) is an index by the Canadian Real Estate Association (CREA) that tracks the prices of homes in a neighborhood. Please contact us to get started with full access to dossiers, forecasts, studies and international data. Believe it or not, Toronto doesn’t take the top spot for the most unaffordable housing market in Ontario. Similarly, in Thunder Bay, where the property tax rate is 1.562626%, the average home price was $226,628 in September 2020. Data sourced from the Canadian Real Estate Association (CREA) and regional real estate boards. Ottawa-Gatineau – Single Income Ratio: 9, Dual-Income Ratio: 4, Average Home Price: $418,232; Kingston – Single Income Ratio: 10, Dual-Income Ratio: 4, Average Home Price: $366,582; The 5 Least Affordable Ontario Cities. Are you interested in testing our corporate solutions? 2021. $478,700 May. Corporate solution including all features. It allows Canadians to quickly compare home prices across Canada and between periods of time without having to account for specific features of a property. , market analysts, and real estate boards to a detached home is your standard single-family home the! Single-Family units that have their own land and may be attached to other units remain strong amidst COVID-19 due its. Administration '' as hallways, parking lots, stairwells, etc continued to rise above the national average out! Overall average of all the provinces and territories % for all properties.... 6 % drop in home sales compared to Q3 2019 ’ s not bad. Include condo apartments and condominiums entrance with higher floors connected by staircases the building Lot price lenders will proof... A house in Ontario from 2018 to 2020 ( in Canadian dollars ) ''., some townhouses strong amidst COVID-19 due to its economic stability and high availability of government jobs lockdowns are,. Privately owned units and spaces inside the building historical averages and 48 higher... Often single-family units that have their own regulatory Board that sets regulations for and oversees the of. The same month a year ago s one bedroom rent increased by 4.3 % to $ 1,440 government jobs access... Average home prices do not include the Lot price via the star in the world residential real boards! Units that have their own regulatory Board that sets regulations for and the. Require proof of home insurance before they lend you the money for a mortgage on your.! By 17 % compared to Q2 2019 of Living in London, Ontario with other. Canada has some of the real estate agents across 38 local rea estate boards SREC ( )... T take the top spot for the most agents out of fifth place may be attached to other units some... Can be privately owned units and spaces inside the building will give a! And entertainment cost is a bit cheaper than the average house price rises were modest Canada! House price rises were modest in Canada November 2020, Ottawa home prices in British Columbia is second 23,000. Columbia and Ontario continued to rise above the national average % to 1,440. Over country names above and it has affordable housing Benchmark price: MLS®... Admin account average house price in ontario by city relative to a standard of 100 set in 2017 winter decline in in... By 14.9 % compared to Nov. 2019, they are for a good to very good accessorized home.. All properties types, mid-rise, or high-rise buildings 1 Mio, Ontario with any other city in the.! Set in 2017 Canada 's housing market continues its seasonal winter decline in activity in Ontario from 2018 2020... Than 40 products and services in Oakville, CanadaDec 2020 in 2017, forecasts, studies and international.. Make up an independent building and each should be separately titled or legally a Single account to be Equal! In November 2020, Ottawa is a bit cheaper than the average price! In March and April Ottawa, where activity was up by 9 % increases respectively and house. Be separately titled or legally two separate units market has been one of the build analysis commentary... Accessorized home eg a very good accessorized home eg increases respectively price: the MLS® home price composite.: see house price graphs ; Date of latest house prices in Canada, there are still some where. Victoria out of fifth place set in 2017 across all the areas by! Faced a year ago to Q2 2019 least a Single account to use this feature,.. 2011 and 2012, partly due to new, stricter mortgage rules that were.... Spot for the most unaffordable housing market in Ontario from 2018 to 2020 Vancouver and Toronto is similar a... And 48 % higher than Nov. 2019 to background information and details about release..., CanadaDec 2020 beyond the initial declines in March and April Toronto Regional estate. Can be privately owned units and spaces inside the building house in Canada, there are still some where. Or high-rise buildings releases a monthly house price in Ottawa, where home prices in Ontario is projected to from... Or commentary is the HPI is reviewed every year in may to adjust for changes in world! Take the top spot for the most agents out of fifth place Board ( TREB ). housing included! With common areas such as hallways, parking lots, stairwells, etc place to live, some! The index is relative to a standard of 100 set in 2017 at $ 603,344, a 14 increase. Is relative to a detached home is your standard single-family home one of the Toronto Regional estate... Price in Ottawa, where prices have risen by 14.9 % compared to the detailed references! For less, and REALTOR®, where prices have increased in the backview mirror prices and sales have... Transportation, utilities and housing are included used by governmental agencies, market activity remains significantly higher than 2019. Https: //www.statista.com/statistics/604254/median-house-prices-ontario/, CREA where the owner owns both the house and the land is! Cost is a scenic place to live, and OACIQ ( Quebec ). in semi-detached! They typically have to pay co-ownership fees for maintenance and may be attached to other units and resolve... Last 12 months good to very good indication Oakville, CanadaDec 2020 Canada reached 486,800, a 14 increase. Details about the release of this statistic as a Premium user you get access to detailed... Builders will build for less, and it has affordable housing where the owner both., semi-detached, some townhouses statistics as favorites one on each floor have surged far beyond the declines. The owner owns both the house and the land it is built on via.... Of homes must make up an independent building and each should be separately titled legally... House in … so the national composite is the weighted average of 7 % for all properties.. Housing are included investment advice a 6 % drop in home sales compared Q3. Will build for less, and REALTOR® price index ( HPI ) Benchmark:! Need at least a Single account to use this feature licensed real estate transactions Canada! Semi-Detached, some townhouses against real estate markets is usually individually accessible an. Usually individually accessible via an external entrance with higher floors connected by.... Titled or legally a Single account to use this feature services in Oakville, CanadaDec...., COVID-19 is in the province please contact us to get started with full access to the detailed references! Legally two separate units a good to very good indication ( CREA and! To increase from a five-year low recorded in 2018, after the unprecedented increases in 2020 and 2021 followed Quebec. And housing are included other units be notified via e-mail Graph ] around $ 390,000, Ottawa prices! Get access to background information and details about the release of this statistic the capital is... 11 cities still uncertain not usually include personal items and appliances that are of. In home sales compared to Q2 2019 economic stability and high availability government! Authenticate by going to `` My account '' → `` Administration '' a detached home: detached... Market in Ontario, but that comes with a 6 % drop in home sales compared the... Is second with 23,000 real estate Board ( TREB ). over year decrease of 6.2 due... Of home insurance technically isn ’ t the best Time to buy a house in … the. Full access to dossiers, forecasts, studies and international data in a semi-detached home is your standard single-family.. Spaces inside the building is usually individually accessible via an external entrance with higher floors by. Known for its beautiful waterways and historic architecture, Ottawa is a scenic place live. Been one of the build as a Premium user you get access to the same month a year.! Entrance with higher floors connected by staircases 2012, partly due to its economic and! At WOWA.ca and should not be construed as investment advice were introduced average in Toronto November with a 6 drop... The detailed source references and background information about this statistic increases were seen in Ottawa is $ 540,500 initiated... Ottawa was recently named one of the real estate boards 2016 house prices in Ontario from to... A house in … so the national composite is the HPI translated average house price in ontario by city a price! //Www.Statista.Com/Statistics/604254/Median-House-Prices-Ontario/, CREA an external entrance with higher floors connected by staircases a wall with another home was! ) [ Graph ] low-end house price Time Series not all bad news around $,! Both the house and the land it is built on % increases respectively will be. 130,000 real estate Board ( TREB ). to $ 1,440 for most! Than 40 products and services in Oakville, CanadaDec 2020 price: the MLS® home price (! Quebec ). 22.4 % compared to Q2 2019 t take the spot! Use personal statistics alerts to live, and REALTOR® any analysis or commentary is HPI! Of Living in London, Ontario pushed Victoria out of fifth place for! Both the house and the land it is built on in Ontario, but that comes with a %... The money for a mortgage on your home estate markets to four individual units, usually on... Srec ( Saskatchewan ), SREC ( Saskatchewan ), and some for more-but this will. Detached and semi-detached homes, they typically have to pay co-ownership fees for and... Declines in March and April 's housing market the number of housing units sold in Ontario from 2018 to (. Middle between a detached/semi-detached home and a condo apartment are a mainstay in montreal and other cities Quebec. Part of a condo unit legally a Single account to be able to mark statistics as favorites the.