The best place to buy real estate in Canada has been revealed and it's a tiny town in cottage country, Ontario.

According to a report from Zoocasa and MoneySense, the town of Bancroft, Ontario, is currently home to the best housing market in Canada because of its affordability, location and potential for growth.

Bancroft is located halfway between Toronto and Ottawa on the intersection of highways 62 and 28. It's right next to Algonquin Provincial Park and the Ontario cottage country, the latter of which is currently thriving in part due to the amount of remote work that's been made possible because of the pandemic.

The average price of a property in Bancroft and the surrounding area is $292,733, 47% cheaper than the national average.

That value has grown, too, by 78% over three years, so Zoocasa says purchasing real estate there is as good an investment as you can make in Canada.

Ontario dominates the list of best-valued real estate in Canada. Woodstock/Ingersoll and London/St. Thomas round out the top three, while major cities like Toronto and Vancouver are down at 38 and 42 respectively.