Real estate more affordable in October
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According to a report from the Canadian Real Estate Association, the average price of a home in October topped off at $419,699, however the latest report from RBC indicates that home ownership is slightly more affordable than it was last quarter. Sadly, or not, the RBC report considers markets outside of Toronto and Vancouver. The Huffington Post complied on list of properties realtors, investors and homebuyers may be looking for.
For all the emotions brought out by the housing bubble/no housing bubble debate, it’s almost comforting to hear there are places in Canada that have two-storey houses on the market for under $300,000.
Though when we do hear about those deals, the first reaction is often skepticism.
Data from the Canadian Real Estate Association pegged the price of an average Canadian house in October at $419,699, another all-time high. But a recent report by RBC concluded ownership is slightly more affordable than it was in the last quarter.
But that’s only if buyers consider markets outside of Toronto and Vancouver – two cities where affordability remains a chief complaint among residents.
So, among the under-$300,000 deals we managed to find:
There’s a heritage two-storey house in Winnipeg with its original hardwood flooring, a renovated kitchen, fireplace, and large porch out front – for $299,900. Compare that with a bright one-bedroom 752 sq.-ft. apartment in Victoria – for $290,000.
Situational preference is, of course, subjective. The two cities have their own draws, issues, and different climates. A big, beautiful home in a city nicknamed “Winterpeg” or a garden-level suite in an area of the country known as the “city of gardens” … to each their own.