Oakville Ranked One of Canada’s Most Expensive Areas to Buy a Home
Published October 25, 2017 at 1:35 pm
Oakville is on the list … Our posh little town has made the cut among the five most expensive areas in Canada – and the second priciest in the Greater Toronto Area (GTA) – based on the avera
Oakville is on the list … Our posh little town has made the cut among the five most expensive areas in Canada – and the second priciest in the Greater Toronto Area (GTA) – based on the average price per square foot, according to a new survey commissioned by Century 21.
A single sq. ft. in a detached Oakville home rings in at $627.33 — that’s a 493 per cent spike since 1997.
Numbers compiled in 1997 list the average price per sq. ft. in Oakville at $105.77, which rose to $163.46 in 2006.
But – even in 2017 – it’s chump change compared to VanCity: Vancouver’s west side topped the nationwide list at $1210 per sq. ft.
That’s followed by Vancouver’s downtown, which came in at $962.75 per sq. ft., then west Vancouver at $816.61 per sq. ft.
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Downtown Toronto – and its condos – ranked fourth at $818.86, with Oakville rounding out the final spot nationwide
Here’s the GTA breakdown:
The GTA marketplace is the “driving force of economics in our country, really, not just in Ontario,” said Century 21 Canada executive VP Brian Rushton. “So certainly, it’s a factor all by itself.”
On the flip side, the cheapest place to buy in Canada is Windsor, Ont. with a $94.64 per sq. ft price tag, the report finds.
The second cheapest market is Moncton, N.B., with a cost of $99.84 per sq. ft., followed by Halifax at $130.70 per sq. ft.
St. John’s placed fourth at $166.67 per sq. ft., while Charlottetown ranked fifth at $175 per sq. ft.
Here’s how homes across Ontario ranked, from Aurora to Oakville (and whatever comes after):
Are you surprised by the results?
(Graphics courtesy of Century 21)
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