People who are looking to relocate to Vancouver have to be willing to put down a good bit of money.
According to a survey by Coldwell Banker, the average 2,200 square foot, move up home in the downtown core is $1,262,000.
Vancouver came in the tenth spot in the annual comparison of executive homes in more than 400 global markets.
Toronto came in the 25th spot, at $824,347, for a home that someone would find suitable for a mid-level executive moving into the city’s downtown core. The average home would need to have four bedrooms, two and a half baths and parking.
Brantford, Ontario was found to be the most affordable area for relocation in the Greater Toronto Area (GTA), where $222,968 will be able to get you a home that is similar to a Toronto home, while getting to keep the extra $600,000.
Canada’s most affordable market remains o be Charlottetown, Prince Edward Island (P.E.I.), with standard executive homes coming in at $158,667.
With housing costs stabilizing across the country, not to mention housing affordability costs declining, we might be seeing other cities in Canada go up in ranks.
Glen Chapman
Broker of Record with Club “100″ GMAC Real Estate
www.club100realestate.com
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