If you're in the market for a home, this may be of interest to you. Canada's housing market had managed to maintain its strength right across the country during the economic turmoil of this past year. Although our southern neighbours have suffered a housing crisis, and even though many analysts say a housing bubble is around the corner for Canadians, bidding wars on high cost homes have continued in major cities like Vancouver and Toronto.
There are many great deals to be found from one end of the country to the other. A comparison of average home prices and the median of household incomes has produced a list of where your dollars are best spent if you're in the market for a home. First up on the list, New Brunswick. Higher than average incomes combined with low housing prices have made this province number one for the best place to look. St. John, Moncton and Fredericton have some great options to offer in the way of home buying. The average cost of a home in St. John and Fredericton comes in at around $169,000. According to the Canadian Real Estate Association, the average provincial cost is around $155,000.
Another great place to look for a home is Nova Scotia and Cape Breton. Sydney, the largest city on Cape Breton island, offers some of the least expensive housing prices in the entire country. An average home here costs a mere $98,338. This could prove to be a great deal for those seeking an Oceanside cottage.
Gatineau, Quebec offers beautiful homes for around $100,000 below Ottawa's prices. This suburban area offers a small-town feel, as it's located on the edge of the Ottawa River. It's close proximity to the city makes commuting easy, which is very attractive to potential buyers. However, if you're seeking a more isolated and small town feel to your next home, Charlottetown, PEI may be an option. Boasting $188,000 for an average home and a quaint population of just 32,000, Charlottetown has much to offer in the way of wildlife, golf courses and sandy beaches. It just may be a great option for a summer vacation home.
Heading into the prairies, Regina, Saskatchewan is a healthy economic city with booming natural gas and oil industries. Showing off its many vibrant recreations spaces and green parks, a home can be had here for about $250,826. Of course, there are many things to consider when purchasing a home but if you're in the market, taking a look at some of these options may be a good idea.
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