According to a Coldwell Banker report the most affordable real estate regions in Canada, based on the average price of a four-bedroom, two-bathroom home from September 2010 to March 2011are:
- Windsor, Ont. at $144,460
- Amherst, N.S. at $194,700
- Welland, Ont. at $196,321
Along with Windsor and Welland, six of the eight most affordable Canadian markets are in the Golden Horseshoe region. (The most affordable U.S. location was Niagara Falls, N.Y. at $60,820.)
On the flip side, the majority of least affordable Canadian real estate regions were in B.C., with Vancouver topping the least at $1.6 million, Kelowna at $1.1 million and Burnaby at $797,455. But expensive markets weren’t isolated to B.C.: Calgary, Fort McMurray and Sherwood Park (all in Alberta) made the most expensive list, as did Oakville, Ont.
“The Canadian market continues to experience record or near-record housing prices in major markets across the country, with Western Canada posting some of the nation’s highest prices,” said Jim Gillespie, CEO for Coldwell Banker Real Estate LLC. “But the (report) indicates that homeownership is still within reach for many. Those living around Ontario’s Golden Horseshoe are benefiting from some of the nation’s most affordable prices.”