There’s an article in the National Post today looking at what you get for the ‘average’ house price in various Canadian cities, mostly in comparison to Toronto. The typical Toronto house costs $356,423 while the average house in Vancouver costs $821,722. The article essentially claims that you get a lot more in Vancouver compared to Toronto for the ‘average’ price so the price difference is not as huge as it appears.
OK, maybe Vancouver is pricer than Toronto — or is it? Most bedroom communities are not taken into account in the average Vancouver house price. And if you’re willing to sacrifice a little neighbourhood safety and convenience, it is possible to find a nice starter house in the Vancouver core.
They go on to compare what you can get in Maple Ridge vs. what you can get in Markham:
B.C. commuters can find a lot more for their money. “Maple Ridge is a great bedroom community just east of Vancouver,” says Mr. Antalek. “It’s ideal for families, with great schools, parks and recreation areas. It’s also very safe.” That $356,423 will buy you a three- or four-bedroom, two-bathroom house on 65×130 feet of land — 25×20 feet more than a lot in Markham. It will have ample parking and most houses require minimal renovations. And the drive to downtown Vancouver will take 45 to 90 minutes, or 50 minutes by train.
Meanwhile in Newfoundland for the $356,423 that it would take to buy the average house in Toronto (or a little bit less than half the average house in Vancouver) you can get a 5,050-sq.-ft. beautifully renovated home in St. John’s on seven acres of land, but I bet its a lot trickier to get a decent supply of heroin.