It’s no surprise the cost of living has been at an all-time high. Inflation and rising interest rates have caused real estate demand to fizzle out over the past year, which has many Canadians feeling like it’s impossible to purchase a home. Well, it looks like it can be possible, according to a report by MoneySense and Zoocasa. Based on benchmark prices and the most-watched real estate markets, they’ve pinpointed where Canadians can buy properties from Halifax to Vancouver.
Here is a roundup of the best places you can buy real estate in Canada in 2023.
Top Three Places to Buy Real Estate in Canada
Greater Moncton, New Brunswick
Coming in at number one is Greater Moncton. Despite substantial growth in the average price of homes, the Moncton region continues to be affordable compared to other cities in Canada. Moncton, Riverview, Dieppe and Greater Moncton have inexpensive real estate opportunities for first-time home buyers. Homes in this region average $320,817!
Sault Ste. Marie, Ontario
Sault Ste. Marie AKA “The Soo”, offers prospective homeowners great value at affordable prices. The town is situated in the heart of the Great Lakes and has a population of around 78,000. If you’re a fan of outdoor space, lakes and rivers, you’ll love the soo.
North Bay, Ontario
North Bay is located on Lake Nipissing in northern Ontario and 125 kilometres from Sudbury. It offers the best parks, walking trails and conservation areas. The naturalist in you will want to make this place home. The average price of homes is $413,525 where there are a ton of condos, gorgeous Victorian and modern homes, plus single-family homes to buy.
What Other Cities Made The List?
If you’re wondering what other cities made the list, here is a short list of some of the other best places to buy real estate in Canada:
- Saint John, New Brunswick
- Halifax-Dartmouth, Nova Scotia
- Sudbury, Ontario
- Vancouver Island, British Columbia
- Kawartha Lakes, Ontario
- Niagara Region, Ontario
- Winnipeg, Manitoba
- St. John’s, Newfoundland & Labrador
The report also ranks the best neighbourhoods in the top four provinces of Alberta, Nova Scotia, British Columbia and Ontario. Here are a few of the top neighbourhoods to keep your eye on.
- Calgary, Alberta
- Edmonton, Alberta
- Halifax, Nova Scotia
- Burnaby, British Columbia
- Langley, British Columbia
- Durham Region, Ontario
You can view the report and full list here.
Photos courtesy of Getty Images.
