Top 10 Best Cities To Buy Real Estate In Canada
Real estate is “property consist of land and buildings on it, along with natural resources like immovable property of this nature; minerals or water; crops, housing or buildings in general. Below are the top 15 best cities to buy real estate in Canada.
Business of real estate is a profession of housing, buildings, renting land, selling or buying. It is a term which is being used in jurisdictions whose legal system is derived from an English common law, like New Zealand, Australia, Pakistan, Canada, the United States, United Kingdom, India.
1. Brantford, Ontario: Brantford may not be seen to have skyrocketing values of a property of Toronto or Vancouver in the recent years, with an average of newly built detached home selling for more than half a million dollars in the year 2017. An annual rate of return of 8.5 per cent has been generated to those people who bought a house in Brantford in the year 2017, better than the 7.1% which was generated by an average single-family home in the Toronto Area over the same period of time.
Previous year’s unemployment rate (2017): 4.9%
Average 5-year rent increase: 20%
5-year annual ROI: 4.5%
Average income to home price: 5.9
Average home price (2017): $506,016
2. Peterborough, Ontario: Peterborough is a beautiful city located on the Otonabee River in the central region of Ontario, Canada and is 125 km northeast of Toronto, Ontario. The population of Peterborough was around 78,698, whereas the CMA i.e Census Metropolitan Area has a population count of 118,975 people.
Previous year’s unemployment rate (2017): 5.4%
Average 5-year rent increase: 10%
5-year annual ROI: 4.6%
Average income to home price: 4.8
Average home price (2017): $413,394
3. Victoria, British Columbia: The capital city of British Columbia, Canada is Victoria and is located on the southern region of the Vancouver Island off to the Pacific coast of Canada. Victoria has a population count of around 80,017 people within the metro area of Greater Victoria. Victoria is 100 km from the largest city of Vancouver on the mainland.
Previous year’s unemployment rate (2017): 4.7%
Average 5-year rent increase: 20%
5-year annual ROI: 8.4%
Average income to home price: 10.3
Average home price (2017): $975,838
4. Guelph, Ontario: Guelph is a beautiful city located in the Southwestern region of Ontario, Canada. This city is known as “The Royal City” and is around 100 kilometres west of downtown Toronto and 28 kilometres east of Waterloo at the intersection of Highway 7 and Highway 6. Guelph is the seat of the Wellington County. Because of the low crime rate in Guelph, a high standard of living and clean environment, Guelph is rated as one of the best places to live in Canada.
Previous year’s unemployment rate (2017): 5.0%
Average 5-year rent increase: 21%
5-year annual ROI: 10.5%
Average income to home price: 6.9
Average home price (2017): $718,898
5. Kingston, Ontario: Kingston is a beautiful Canadian city located in the Eastern region of Ontario where Saint Lawrence River flows out of the Lake Ontario. Situated in the midway between Montreal and Toronto, Kingston was named as the first capital of Ontario on 15th February, 1841, by Lord Sydenham, a Governor.
Previous year’s unemployment rate (2017): 5.9%
Average 5-year rent increase: 17%
5-year annual ROI: 7.0%
Average income to home price: 4.4
Average home price (2017): $416,028
6. Abbotsford, British Columbia: Abbotsford is the largest city located outside of Greater Vancouver area. This city offers a number of job opportunities, affordable home prices. Abbotsford residents enjoy its best urban setting which is situated in the most beautiful agricultural areas of Canada.
Previous year’s unemployment rate (2017): 5.5%
Average 5-year rent increase: 15%
5-year annual ROI: 11.2%
Average income to home price: 10.6
Average home price (2017): $972,360
7. Vancouver, British Columbia: Vancouver has been ranked as the most livable city in the world. As of the year 2010, Vancouver has been ranked at the fourth position for the highest quality of living as compared to any other city on the Earth. According to the Forbes, Vancouver had the 6th overpriced real estate market and was the 2nd highest in North America after Los Angeles in the year 2007.
Previous year’s unemployment rate (2017): 5.6%
Average 5-year rent increase: 24%
5-year annual ROI: 13.1%
Average income to home price: 22.6
Average home price (2017): $2,264,596
8. Barrie, Ontario: Barrie is a small and a beautiful city, and a manifesting regional centre located in the Central region of Ontario, Canada and positioned on the shores of the Kempenfelt Bay. This city is located in the Simcoe County and is politically independent. Barrie is the part of the Huronia region of Central Ontario.
Previous year’s unemployment rate (2017): 5.4%
Average 5-year rent increase: 16%
5-year annual ROI: 8.2%
Average income to home price: 6.3
Average home price (2017): $632,509
9. London, Ontario: London is a beautiful city in the Southwestern region of Ontario, Canada along the Windsor Corridor and Quebec City. As per Canadian census 2016, the population of this city was 383,822. London is situated at the confluence of Thames River, which is 200 kilometres from both Detroit, Michigan and Toronto, Ontario; and is 230 kilometres from Buffalo, New York.
Previous year’s unemployment rate (2017): 6.6%
Average 5-year rent increase: 14%
5-year annual ROI: 6.3%
Average income to home price: 5.4
Average home price (2017): $485,801
10. Kelowna, British Columbia: Kelowna is a small and beautiful city located on the Okanagan Lake in the Okanagan Valley in the southern region of British Columbia. Kelowna serves as the head office of the Regional District. Kelowna has a population count of 194,882 people.
Previous year’s unemployment rate (2017): 5.1%
Average 5-year rent increase: 23%
5-year annual ROI: 3.8%
Average income to home price: 9.3
Average home price (2017): $890,583
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