The average resale house price in Canada was forecast to reach nearly ******* Canadian dollars in 2026, according to a January forecast. In 2024, house prices increased after falling for the first time since 2019. One of the reasons for the price correction was the notable drop in transaction activity. Housing transactions picked up in 2024 and are expected to continue to grow until 2026. British Columbia, which is the most expensive province for housing, is projected to see the average house price reach *** million Canadian dollars in 2026. Affordability in Vancouver Vancouver is the most populous city in British Columbia and is also infamously expensive for housing. In 2023, the city topped the ranking for least affordable housing market in Canada, with the average homeownership cost outweighing the average household income. There are a multitude of reasons for this, but most residents believe that foreigners investing in the market cause the high housing prices. Victoria housing market The capital of British Columbia is Victoria, where housing prices are also very high. The price of a single family home in Victoria's most expensive suburb, Oak Bay was *** million Canadian dollars in 2024.

The average price for a house in Quebec stood at approximately ******* Canadian dollars in 2024 and was set to increase slightly in the next two years. In 2025, the average price is forecast to reach ******* Canadian dollars. Meanwhile, the national average house price was forecast to pick up in 2025. Compared to other provinces, Quebec was the third-most expensive province to buy housing in Canada, after British Columbia and Ontario. Quebec Located on the eastern side of Canada, Quebec had an estimated population of almost **** million people in 2023. It is the second most populated province in Canada, and the second-largest by land size, as it is ***** times the size of Texas. The largest city in Quebec is Montreal, which is close to the Vermont border in the United States. The median total family income in Quebec has been steadily rising since 2000. Housing Prices in Canada Housing prices in Canada vary province to province. The most expensive average house price was in British Columbia in 2024. Vancouver, the most populated city in British Columbia, is known for its high-priced real estate market. However, housing prices all over Canada have increased in the past couple of years.

The Canadian real estate services market, valued at $29.43 billion in 2025, exhibits robust growth potential, projected to expand at a Compound Annual Growth Rate (CAGR) of 5.00% from 2025 to 2033. This growth is fueled by several key drivers. The increasing urbanization in major Canadian cities like Toronto and Vancouver, coupled with a burgeoning population and sustained economic activity, is driving demand for residential and commercial properties. Consequently, the need for comprehensive real estate services, encompassing property management, valuation, and other specialized offerings, is significantly escalating. Furthermore, the rising complexity of real estate transactions and the growing preference for professional expertise are boosting the market's trajectory. Technological advancements, including the adoption of property management software and online platforms, are streamlining operations and improving efficiency within the sector. However, potential restraints include fluctuations in interest rates which can impact market activity and the ongoing supply chain challenges affecting construction timelines. Market segmentation reveals a diverse landscape. The residential segment dominates, driven by consistent population growth and ongoing demand for housing. The commercial sector demonstrates steady growth, fuelled by expansion in key economic sectors. Within service types, property management accounts for a significant portion, reflecting the increased reliance on professional management for both residential and commercial properties. Valuation services are also experiencing substantial growth, supported by rising transaction values and regulatory requirements. Key players such as Colliers International Group Inc, Cushman & Wakefield ULC, and FirstService Corporation are actively shaping the market landscape through strategic acquisitions, technological integration, and expansion into new service offerings. While the provided data focuses on the Canadian market, the overall positive trends suggest that this upward growth trajectory is likely to continue throughout the forecast period, assuming continued economic stability and controlled inflation. Recent developments include: July 2023: Cadillac Fairview announced that the company has successfully implemented its CF Concierge Platform at 27 office complexes across its Canadian portfolio. Developed in partnership with HqO, the leading workplace experience platform, CF Concierge is a mobile app designed to support building occupants with an enhanced workplace experience, offering access to digital amenities and services in CF office buildings., March 2023: Toronto-based Cadillac Fairview purchased Lincoln Property Company’s residential division. Cadillac Fairview has owned 49 percent of Lincoln’s residential division since 2019. This acquisition comes as Lincoln Residential CEO Tim Byrne is retiring, and Cadillac is looking to expand its portfolio. Byrne and Lincoln Property founder Mack Pogue will retain a 5 percent stake in the residential division. For Cadillac, the acquisition extends its trend of playing a heavy hand in Dallas real estate.. Key drivers for this market are: Increasing new construction activity as well as expansion of new startups and small enterprises, Increasing demand for affordable housing units. Potential restraints include: Increasing new construction activity as well as expansion of new startups and small enterprises, Increasing demand for affordable housing units. Notable trends are: Increasing Contribution to GDP from the Real Estate Sector to Provide Opportunities.

Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2024. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 116.2 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.

The air-source heat pump (ASHP) is a popular system that does not see much use in cold-climates despite its high potential in low carbon footprint. This study was designed to evaluate the techno-economic feasibility of its application to single-detached homes in Canada. First, a set of support vector regression (SVR) models was developed by a housing database for prediction of the exposed surface areas of homes in five Canadian cities: Vancouver, Toronto, Montreal, Edmonton, and Yellowknife. The predicted areas were then used to estimate the heat demands of all homes. As a result, the technical evaluation was conducted by comparison of the heat loss rate with the heat supply rate of ASHPs. Annual energy consumption was calculated using a bin method for furnace-alone and furnace/ASHP hybrid systems. Seasonal operating costs and greenhouse gases (GHG) emissions were estimated by utility costs and emissions factors for each city. Our findings show that Vancouver, Toronto, and Montreal are technically feasible to adopt the ASHP technology for economic and low GHG emission benefits. Although currently Edmonton and Yellowknife could not theoretically gain ASHP’s benefits, the ASHP technology is still a promising technology to be implemented in the future if renewable energy infrastructures are established.