It's brutal out here.
While it may be a good idea to learn about the best places to buy real estate before diving into the market, getting a feel for the worst places in Canada to buy real estate may also give you some sweet perspective before you take the plunge.
In a Zoocasa report that outlines the optimal cities to buy homes across the country, Bancroft, Ontario showed up in the top spot. The report is based on the current average price of real estate as well as recent price growth, the economics in the area, and the neighbourhood characteristics. It's basically the combination between a price analysis and a vibe check.
Taking a look all the way down on the other end of the list, the place that came in dead last was Vancouver, where the average price of a home is $1,056,897.
The next worst place is Oakville Milton, where the average cost is $1,116,275. And the third worst place is the Lower Mainland.
The Lower Mainland covers the Greater Vancouver Area, the Sunshine Coast, and beyond. Well, Vancouver, it looks like one bad apple really does spoil the bunch as people flee from Vancouver to nearby areas. The average cost of a house in the Lower Mainland is $969,233.
The Fraser Valley and the City of Toronto followed close behind the worst three places to buy real estate.