house prices in bc

Canada's four most expensive cities for renters are all in B.C. — and with grocery and rental prices on the rise in the province, many folks are considering small towns in B.C. as an alternative.

It becomes particularly tricky to afford a one-bedroom apartment if you're without a roomie and have to front all those living costs on your own.

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Homebuyers rejoice! There are actually still cities in Canada with affordable housing where you can purchase a place for less than $200,000 with no time machine necessary.

For a lot of Canadians hoping to buy themselves a home, it can look like a far-off dream with the way the housing market has been.

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It's not looking good for potential homebuyers as Canada's home prices are expected to "remain elevated" this year and affordability will "decline" over the next few years.

According to the latest Housing Market Outlook released by the Canada Mortgage and Housing Corporation on April 21, the pace of price growth will stay elevated in 2022 when compared to long-term averages.

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Once again, Canada's home prices have broken records when it comes to how expensive costs are and two cities are partly to blame for the high national average.

New statistics released by the Canadian Real Estate Association(CREA) on March 15 revealed that national home sales were up in February 2022 and so were home prices.

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House prices in B.C. just got even more incredible, with this rundown shack being valued at $1,457,000.

The home is covered by shrubbery and is on a relatively small piece of land. Yet, somehow it is still super expensive.

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