This is your Western Canada guide to just how well real estate markets have performed over the past year.
Average price in April, 2015: 899,178
Average price in April, 2016: 1,091,767
Prices in Canada’s hottest housing market have skyrocketed, increasing 21.4% year-over-year in April. It’s no surprise, especially to those who purchased last year. However, many have argued that sort of appreciation is unsustainable, so investors may be wary of jumping in now.
Still, Vancouver hasn’t even been the province’s highest performing market over the past 12 months.
That honour goes to the Fraser Valley
Average price in April, 2015: $334,478
Average price in April, 2016: $410,652
Price appreciation, year-over-year: 22.8%
Investors in Alberta have had a tough year, with layoffs coupled with negative price appreciation in most markets hitting the pocketbooks hard. There is only one market that has seen average prices increase over the past 12 months.
Average price in April, 2015: $455,155
Average price in April, 2016: $460,114
Price appreciation, year-over-year: 1.1%
The average price in Saskatchewan may have dipped overall – falling by 1.6% year-over-year – but there was one market that saw impressive yearly gains.
Average price in April, 2015: $169,100
Average price in April, 2016: $201,184
Price appreciation, year-over-year: 19%
Check back Friday for central Canada’s best performing markets
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Cooks Creek, Saint-Casimir, Yarrow, Pisquid West, Saint-Juste-du-Lac
It may be a small sample size, but Investors who purchased at the beginning of the year in these markets have enjoyed impressive appreciation gains.