Scot recommends this from buzzbuzznews:

.

Mind the gap: The price difference between a house and condo in Canada just got bigger

The price gap between a standard two-storey house and condo in Vancouver just hit $712,027. If you had that kind of money sitting in the bank, you could either upgrade your suite to a single family home in the city, or you could buy additional condos in Winnipeg (average price $209,023), Ottawa ($257,500) and Halifax ($217,500) – and still have cash leftover.

.

buzz

Click to enlarge. 

 

 

 

Posted in

Support

If you love this region and have a view to its future please subscribe, donate, or become a Patron.

Share on

Comments

  1. Due to the large number of very expensive homes and condos these averages are quite misleading. Better would be to use a figure that excludes the top 10 or 20% and the differences are not nearly as stark.

    People have drowned in rivers one foot deep on average. (TM)

    Vancouver attracts far more billionaire or multi-millionaire second or third home owners than Calgary and certainly Winnipeg or Halifax. Condo prices in Vancouver, and certainly in Burnaby or New West are not much higher than GTA or Calgary, for example.

    And once you include MetroVancouver the differences, on average, are even smaller, as Vancouver is actually smaller than Edmonton or Calgary, both counting landmass and people !

    Plenty of reasonably choices further out in a Surrey, Langley, MapleRidge, Delta etc … But yes a standard house in Vancouver is very expensive.

    Fourthly, the average condo is getting smaller (“spacious 800 sq ft 2BR plus den”) and as such the difference between house and condo would get larger even in a flat market !