Cape Breton and the Annapolis Valley have cracked the top ten areas in Canada that are the most desirable places to live in.
The list was created by real estate experts at Kelowna Homes and analyzed data from The Canada Real Estate Association to establish which Canadian areas are the most desirable to live in.
The study looked at the year-on-year difference in average house prices from September 2022 to September 2023.
Top 10 in Canada
Powell River in British Columbia topped the list of the most desirable areas to live in, with a 40.5% rise in the average house prices in the past year. To put that into perspective, the average house prices in Powell River have increased 29.7% more than those in Annapolis Valey, which ranked 10th on the list.
In second place is southern Quebec’s Sherbrooke, with a 29% increase in house prices from 2022. The average house price in Sherbrooke costs $515,155, a $115,732 rise from last year.
In third place is Brandon in Manitoba, with a 24.5% increase in house prices last year. Brandon also has the second lowest average house price out of the top 10 with an average house price of $265,69, which is $502,685 cheaper than Powell River, which ranked first.
Trois-Rivières in Quebec comes in fourth place, with the city seeing a 21.4% increase in their average house prices in the past year. The average house price in Trois-Rivières is $353,062.
In fifth place is Alberta’s Lloydminster, which in the past year has seen a 17.5% increase in average house prices. Lloydminster has the third cheapest average house price in the top 10 at $281,849.
Thunder Bay in Ontario and Kelowna in British Columbia followed closely behind in joint sixth place with a 14% rise in house prices last year. The average house price in Thunder Bay is $362,562, which is $80,713 more expensive than in Lloydminster. Kelowna has the highest average house price out of the top ten locations listed at $988,000.
In seventh place is Nova Scotia’s Cape Breton, which has seen a 12.6% increase in average house prices from last year. Cape Breton’s average house prices are $206,600, which is the cheapest out of all the top 10 areas ranked.
Alberta’s third largest city Lethbridge is in eighth place, with the average house prices seeing a 12.3% increase in the past year. The average house prices in Lethbridge are $364,155, $157,555 more expensive than Cape Breton.
In ninth place is Central Alberta, with an average house price of $386,053 and a 12.1% rise from last year.
Rounding off the list in tenth place is Nova Scotia’s Annapolis Valley, with a 10.8% increase in house prices in a year. The average house price is $306,700, a $29,900 price difference from 2022.
Comments