The average house price in British Columbia in 2024 stood at about ******* Canadian dollars and, according to the forecast, is set to increase by ***********, reaching ********* Canadian dollars in the following year. The average house price in Canada is forecast to grow in the next two years.

In June 2025, a single-family house in Oak Bay cost **** million Canadian dollars. Oak Bay was the most expensive suburb in Victoria, British Columbia, followed by Highlands and North Saanich. Victoria: an overview Victoria is the capital city of the province of British Columbia. The city is located south of Vancouver, and across the U.S. border from Seattle. In 2020, the average home price in Victoria was ****million Canadian dollars, which placed the city as the sixth most expensive Canadian city for residential real estate. Home affordability in Canada Housing affordability is, undoubtedly, one of the biggest barriers to homeownership in Canada. In 2025, the ratio of homeownership costs to income was **** percent. Nevertheless, more expensive locations in the country had a higher ratio, with Vancouver exceeding ** percent, suggesting that on average, mortgage payments were slightly lower than the average income.

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.

Canada House Price Index: Annual: New Housing: British Columbia: Victoria data was reported at 119.683 Dec2016=100 in 2024. This records a decrease from the previous number of 121.308 Dec2016=100 for 2023. Canada House Price Index: Annual: New Housing: British Columbia: Victoria data is updated yearly, averaging 102.338 Dec2016=100 from Dec 1981 (Median) to 2024, with 44 observations. The data reached an all-time high of 128.967 Dec2016=100 in 1981 and a record low of 83.467 Dec2016=100 in 2000. Canada House Price Index: Annual: New Housing: British Columbia: Victoria data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.EB004: House Price Index: Dec2016=100: Annual.

House prices in British Columbia and Ontario were notably higher than any other province in Canada in 2024. The average house price in any other province was less than ******* Canadian dollars, whereas in British Columbia and Ontario, it exceeded ******* Canadian dollars. The most affordable province to buy a home was Newfoundland, where the average home cost about ******* Canadian dollars.

Average House Prices in Canada increased to 688800 CAD in October from 687600 CAD in September of 2025. This dataset includes a chart with historical data for Canada Average House Prices.

The average Canadian house price declined slightly in 2023, after four years of consecutive growth. The average house price stood at ******* Canadian dollars in 2023 and was forecast to reach ******* Canadian dollars by 2026. Home sales on the rise The number of housing units sold is also set to increase over the two-year period. From ******* units sold, the annual number of home sales in the country is expected to rise to ******* in 2025. British Columbia and Ontario have traditionally been housing markets with prices above the Canadian average, and both are set to witness an increase in sales in 2025. How did Canadians feel about the future development of house prices? When it comes to consumer confidence in the performance of the real estate market in the next six months, Canadian consumers in 2024 mostly expected that the market would go up. A slightly lower share of the respondents believed real estate prices would remain the same.

This data provides a quarterly overview of housing affordability for homeowners in B.C. and in its major cities (census metropolitan areas). Housing affordability is measured using the Mortgage Payment Percent of Income (MPPI) which is calculated every quarter based on: • A new home buyer earning the median after-tax income for the quarter • The median home price in a region • A 25-year variable-rate mortgage • The minimum down payment • The current prime interest rate By combining home prices, income levels, and mortgage rates, the MPPI produces a full picture of housing affordability over time. Sources of Data: Statistics Canada (StatsCan): Income Data, Prime Rates, Consumer Price Index; BC Assessment Authority (BCA): House Prices

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.

This dataset includes Statistics Canada table 46-10-0050-01, titled "Total family income and owner characteristics at the residential property level by income quintiles". The dataset has been split up into three tables: Table A includes the number of properties and average assessment value of properties by the owner's income quintile, the property type (eg. detached house, condominium), and by family type (lone-parent family, couple family, and other census family). Table B includes includes the number of properties and average assessment value of properties by the owner's income quintile, the property type (eg. detached house, condominium), and by pension income categories (eg. whether or not the owner of the property is receiving a pension). Table C includes includes includes the number of properties and average assessment value of properties by the owner's income quintile, the property type (eg. detached house, condominium), and by residency participation types (eg. whether the property is owned by resident owners only or a mix of resident and non-resident owners). The tables have been edited to include only geographies from British Columbia and to have the unique ID numbers added to the Census Subdivisions and Census Metropolitan Areas. The tables are available in CSV and Excel Workbook format. Definitions and notes are included at the bottom of the spreadsheet. This data set was collected as part of the Canadian Housing Statistics Program by Statistics Canada. Geographies: Abbotsford-Mission, census metropolitan area, Abbotsford, Mission, Kelowna, census metropolitan area, Central Okanagan, Central Okanagan J, Kelowna, Lake Country, Peachland, West Kelowna, Vancouver, census metropolitan area, Anmore, Belcarra, Bowen Island, Burnaby, Coquitlam, Delta, Langley, city, Langley, municipal district, Lions Bay, Maple Ridge, Metro Vancouver A, New Westminster, North Vancouver, city, North Vancouver, municipal district, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, Surrey, Vancouver, West Vancouver, White Rock, Victoria, census metropolitan area, Central Saanich, Colwood, Esquimalt, Highlands, Juan de Fuca (Part 1), Langford, Metchosin, North Saanich, Oak Bay, Saanich, Sidney, Sooke, Victoria, View Royal, British Columbia, outside of census metropolitan areas, Alberni-Clayoquot A, Alberni-Clayoquot B, Alberni-Clayoquot C, Alberni-Clayoquot D, Alberni-Clayoquot E, Alberni-Clayoquot F, Alert Bay, Armstrong, Ashcroft, Barriere, Bulkley-Nechako A, Bulkley-Nechako B, Bulkley-Nechako C, Bulkley-Nechako D, Bulkley-Nechako E, Bulkley-Nechako F, Bulkley-Nechako G, Burns Lake, Cache Creek, Campbell River, Canal Flats, Cariboo A, Cariboo B, Cariboo C, Cariboo D, Cariboo E, Cariboo F, Cariboo G, Cariboo H, Cariboo I, Cariboo J, Cariboo K, Cariboo L, Castlegar, Central Coast A, Central Coast C, Central Coast D, Central Coast E, Central Kootenay A, Central Kootenay B, Central Kootenay C, Central Kootenay D, Central Kootenay E, Central Kootenay F, Central Kootenay G, Central Kootenay H, Central Kootenay I, Central Kootenay J, Central Kootenay K, Chase, Chetwynd, Chilliwack, Clearwater, Clinton, Coldstream, Columbia-Shuswap A, Columbia-Shuswap B, Columbia-Shuswap C, Columbia-Shuswap D, Columbia-Shuswap E, Columbia-Shuswap F, Comox, Comox Valley A, Comox Valley B (Lazo North), Comox Valley C (Puntledge - Black Creek), Courtenay, Cowichan Valley A, Cowichan Valley B, Cowichan Valley C, Cowichan Valley D, Cowichan Valley E, Cowichan Valley F, Cowichan Valley G, Cowichan Valley H, Cowichan Valley I, Cranbrook, Creston, Cumberland, Dawson Creek, Duncan, East Kootenay A, East Kootenay B, East Kootenay C, East Kootenay E, East Kootenay F, East Kootenay G, Elkford, Enderby, Fernie, Fort St. James, Fort St. John, Fraser Lake, Fraser Valley A, Fraser Valley B, Fraser Valley C, Fraser Valley D, Fraser Valley E, Fraser Valley F, Fraser Valley G, Fraser Valley H, Fraser-Fort George A, Fraser-Fort George C, Fraser-Fort George D, Fraser-Fort George E, Fraser-Fort George F, Fraser-Fort George G, Fraser-Fort George H, Fruitvale, Gibsons, Gold River, Golden, Grand Forks, Granisle, Greenwood, Harrison Hot Springs, Hazelton, Hope, Houston, Hudson's Hope, Invermere, Juan de Fuca (Part 2), Kamloops, Kaslo, Kent, Keremeos, Kimberley, Kitimat, Kitimat-Stikine A, Kitimat-Stikine B, Kitimat-Stikine C (Part 1), Kitimat-Stikine C (Part 2), Kitimat-Stikine D, Kitimat-Stikine E, Kitimat-Stikine F, Kootenay Boundary A, Kootenay Boundary B / Lower Columbia-Old-Glory, Kootenay Boundary C / Christina Lake, Kootenay Boundary D / Rural Grand Forks, Kootenay Boundary E / West Boundary, Ladysmith, Lake Cowichan, Lantzville, Lillooet, Logan Lake, Lumby, Lytton, Mackenzie, Masset, McBride, Merritt, Midway, Montrose, Mount Waddington A, Mount Waddington B, Mount Waddington C, Mount Waddington D, Nakusp, Nanaimo, Nanaimo A, Nanaimo B, Nanaimo C, Nanaimo E, Nanaimo F, Nanaimo G, Nanaimo H, Nelson, New Denver, New Hazelton, North Coast A, North Coast C,...

This table contains data on the number, living area, and assessment value per square foot of residential properties, by property type and period of construction, for the provinces of Nova Scotia, Ontario and British Columbia, their census metropolitan areas (CMAs) and census subdivisions (CSDs).

The house price to income ratio in Canada peaked in the second quarter of 2022, followed by a decline until the second quarter of 2025. The ratio 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. Canada's index score in the second quarter of 2025 amounted to *****, which means that house price growth has outpaced income growth by almost **** percent since 2015. Canadian home prices continue to grow House prices in Canada have steadily increased over the past decade, despite a very mild decline in 2023. This trend is forecast to continue until 2026, albeit at a lower rate than in the period between 2019 and 2022. In British Columbia, which has consistently been the most expensive province for housing, the average house price is expected to reach nearly *** million Canadian dollars in 2026. The rising homeownership costs have also affected rents. In 2024, the average two-bedroom apartment rent in Vancouver exceeded ***** Canadian dollars. Canadian incomes on the rise Incomes in Canada have steadily risen since 2000 and show no signs of slowing down in the near future. This should improve housing affordability, as long as home price growth slows down.

The average house price in Nova Scotia in 2024 stood at approximately ******* Canadian dollars. In the next year, house prices are forecast to further increase by about five percent. Compared to other provinces, Nova Scotia ranked below the national average in terms of house prices. However, the average price of a house in Nova Scotia was twice lower than in Ontario or British Columbia. Exploding population growth in recent yearsNova Scotia is the second-smallest province after Prince Edward Island, and had a population of just under *********** in 2018. The population of this province was relatively steady between 2000 and 2015, but has taken off since then. This sudden growth may be a factor in the increasing house prices, as demand also increases due to the greater number of residents looking for homes. The future of housing affordability in Nova ScotiaHalifax, the provincial capital, had an affordable housing market as of 2018, with mortgage payments only constituting about ** percent of average household incomes. The number of housing starts in the region has increased in the past few years, which also suggests an increase in demand. Only time will tell whether this will ensure a sufficient supply of homes for the region in response to its growing population.

This table contains data described by the following dimensions (Not all combinations are available): Geography (39 items: All census agglomerations 50,000 and over; Barrie; Ontario; Belleville; Ontario; Abbotsford-Mission; British Columbia ...).

This dataset includes one dataset which was custom ordered from Statistics Canada.The table includes information on housing suitability and shelter-cost-to-income ratio by number of bedrooms, housing tenure, age of primary household maintainer, household type, and income quartile ranges for census subdivisions in British Columbia. The dataset is in Beyond 20/20 (.ivt) format. The Beyond 20/20 browser is required in order to open it. This software can be freely downloaded from the Statistics Canada website: https://www.statcan.gc.ca/eng/public/beyond20-20 (Windows only). For information on how to use Beyond 20/20, please see: http://odesi2.scholarsportal.info/documentation/Beyond2020/beyond20-quickstart.pdf https://wiki.ubc.ca/Library:Beyond_20/20_Guide Custom order from Statistics Canada includes the following dimensions and variables: Geography: Non-reserve CSDs in British Columbia - 299 geographies The global non-response rate (GNR) is an important measure of census data quality. It combines total non-response (households) and partial non-response (questions). A lower GNR indicates a lower risk of non-response bias and, as a result, a lower risk of inaccuracy. The counts and estimates for geographic areas with a GNR equal to or greater than 50% are not published in the standard products. The counts and estimates for these areas have a high risk of non-response bias, and in most cases, should not be released. Housing Tenure Including Presence of Mortgage (5) 1. Total – Private non-band non-farm off-reserve households with an income greater than zero by housing tenure 2. Households who own 3. With a mortgage1 4. Without a mortgage 5. Households who rent Notes: 1) Presence of mortgage - Refers to whether the owner households reported mortgage or loan payments for their dwelling. 2015 Before-tax Household Income Quartile Ranges (5) 1. Total – Private households by quartile ranges1, 2, 3 2. Count of households under or at quartile 1 3. Count of households between quartile 1 and quartile 2 (median) (including at quartile 2) 4. Count of households between quartile 2 (median) and quartile 3 (including at quartile 3) 5. Count of households over quartile 3 Notes: 1) A private household will be assigned to a quartile range depending on its CSD-level location and depending on its tenure (owned and rented). Quartile ranges for owned households in a specific CSD are delimited by the 2015 before-tax income quartiles of owned households with an income greater than zero and residing in non-farm off-reserve dwellings in that CSD. Quartile ranges for rented households in a specific CSD are delimited by the 2015 before-tax income quartiles of rented households with an income greater than zero and residing in non-farm off-reserve dwellings in that CSD. 2) For the income quartiles dollar values (the delimiters) please refer to Table 1. 3) Quartiles 1 to 3 are suppressed if the number of actual records used in the calculation (not rounded or weighted) is less than 16. For cases in which the renters’ quartiles or the owners’ quartiles (figures from Table 1) of a CSD are suppressed the CSD is assigned to a quartile range depending on the provincial renters’ or owners’ quartile figures. Number of Bedrooms (Unit Size) (6) 1. Total – Private households by number of bedrooms1 2. 0 bedrooms (Bachelor/Studio) 3. 1 bedroom 4. 2 bedrooms 5. 3 bedrooms 6. 4 bedrooms Note: 1) Dwellings with 5 bedrooms or more included in the total count only. Housing Suitability (6) 1. Total - Housing suitability 2. Suitable 3. Not suitable 4. One bedroom shortfall 5. Two bedroom shortfall 6. Three or more bedroom shortfall Note: 1) 'Housing suitability' refers to whether a private household is living in suitable accommodations according to the National Occupancy Standard (NOS); that is, whether the dwelling has enough bedrooms for the size and composition of the household. A household is deemed to be living in suitable accommodations if its dwelling has enough bedrooms, as calculated using the NOS. 'Housing suitability' assesses the required number of bedrooms for a household based on the age, sex, and relationships among household members. An alternative variable, 'persons per room,' considers all rooms in a private dwelling and the number of household members. Housing suitability and the National Occupancy Standard (NOS) on which it is based were developed by Canada Mortgage and Housing Corporation (CMHC) through consultations with provincial housing agencies. Shelter-cost-to-income-ratio (4) 1. Total – Private non-band non-farm off-reserve households with an income greater than zero 2. Spending less than 30% of households total income on shelter costs 3. Spending 30% or more of households total income on shelter costs 4. Spending 50% or more of households total income on shelter costs Note: 'Shelter-cost-to-income ratio' refers to the proportion of average total income of household which is spent on shelter costs. Household Statistics (8) 1....

In 2016, the insurance value for homeowners insurance for homes worth between *** and * million Canadian dollars in British Columbia totaled *** Canadian dollars.

Homeowners Insurance in Canada

Home insurance allows for homeowners to be protected in cases of theft, damage, or loss, inside or outside the house. Homeowners insurance in Canada covers damage or theft to the home, flood damage, personal possessions, personal property stolen from their car, and damage or injury to those to visitors. Furthermore, it also covers those who cause accidental damage to someone else’s property. Additionally, it helps cover additionally living expenses if one cannot live in their home temporarily. Although homeowners insurance is not mandatory in Canada, it provides a great safety net for those who choose to buy it.

Prices across Canada

As the second largest country in the world based on landmass, cost of homeowners insurance vary region to region. In 2016, for houses worth *** and * million Canadian dollars, Quebec had the highest monthly average cost. Following Quebec was Atlantic/Ontario, then the Western region. Despite Quebec having the highest cost by region, they also had the highest home insurance customer satisfaction in Canada in 2018.

Prospective homebuyers in Vancouver, British Columbia, and Toronto, Ontario, needed an annual income of over ******* Canadian dollars in June 2025 to qualify for the average priced home. In Vancouver, this figure was approximately ******* Canadian dollars. British Columbia and Ontario, are Canada's most expensive provinces for housing. According to a January 2025 forecast by the Canadian Real Estate Association (CREA), the housing market is expected to grow in the next two years, which is likely to worsen home affordability.

The average mortgage payment in the large and mid-sized cities in Canada ranged between 1,300 Canadian dollars and 2,600 Canadian dollars. In the fourth quarter of the year, Vancouver topped the ranking, with homebuyers paying, on average, ***** Canadian dollars monthly. In Toronto, the average monthly scheduled mortgage payment was ***** Canadian dollars. Canada’s housing market House prices in Canada vary widely across the country. In 2023, the average sales price of detached single-family homes in Vancouver was nearly three times as expensive as the national average. Vancouver is undoubtedly considered the least affordable housing market: In 2023, the cost of buying a home with a **-year mortgage in Canada was approximately ** percent of the median household income, whereas in Vancouver, it was nearly *** percent. Development of house prices The development of house prices depends on multiple factors, such as availability on the market and demand. Since 2005, house prices in Canada have been continuously growing. According to the MSL composite house price index, 2021 measured the highest house price increase.

Note: The data release is complete as of August 14th, 2023. 1. (Added April 4th) Canada and Census Divisions = Early April 2023 2. (Added May 1st) Ontario, British Columbia, and Alberta Census Subdivisions (CSDs) = Late April 2023 3a. (Added June 8th) Manitoba and Saskatchewan CSDs 3b. (Added June 12th) Quebec CSDs = June 12th 2023 4. (Added June 30th) Newfoundland and Labrador, Prince Edward Island, New Brunswick, and Nova Scotia CSDs = Early July 2023 5. (Added August 14th) Yukon, Northwest Territories, and Nunavut CSDs = Early August 2023. For more information, please visit HART.ubc.ca. Housing Assessment Resource Tools (HART) This dataset contains 18 tables which draw upon data from the 2021 Census of Canada. The tables are a custom order and contains data pertaining to core housing need and characteristics of households. 17 of the tables each cover a different geography in Canada: one for Canada as a whole, one for all Canadian census divisions (CD), and 15 for all census subdivisions (CSD) across Canada. The last table contains the median income for all geographies. Statistics Canada used these median incomes as the "area median household income (AMHI)," from which they derived some of the data fields within the Shelter Costs/Household Income dimension. Included alongside the data tables is a guide to HART's housing need assessment methodology. This guide is intended to support independent use of HART's custom data both to allow for transparent verification of our analysis, as well as supporting efforts to utilize the data for analysis beyond what HART did. There are many data fields in the data order that we did not use that may be of value for others. The dataset is in Beyond 20/20 (.ivt) format. The Beyond 20/20 browser is required in order to open it. This software can be freely downloaded from the Statistics Canada website: https://www.statcan.gc.ca/eng/public/beyond20-20 (Windows only). For information on how to use Beyond 20/20, please see: http://odesi2.scholarsportal.info/documentation/Beyond2020/beyond20-quickstart.pdf https://wiki.ubc.ca/Library:Beyond_20/20_Guide Custom order from Statistics Canada includes the following dimensions and data fields: Geography: - Country of Canada, all CDs & Country as a whole - All 10 Provinces (Newfoundland, Prince Edward Island (PEI), Nova Scotia, New Brunswick, Quebec, Ontario, Manitoba, Saskatchewan, Alberta, and British Columbia), all CSDs & each Province as a whole - All 3 Territories (Nunavut, Northwest Territories, Yukon), all CSDs & each Territory as a whole Data Quality and Suppression: - The global non-response rate (GNR) is an important measure of census data quality. It combines total non-response (households) and partial non-response (questions). A lower GNR indicates a lower risk of non-response bias and, as a result, a lower risk of inaccuracy. The counts and estimates for geographic areas with a GNR equal to or greater than 50% are not published in the standard products. The counts and estimates for these areas have a high risk of non-response bias, and in most cases, should not be released. - Area suppression is used to replace all income characteristic data with an 'x' for geographic areas with populations and/or number of households below a specific threshold. If a tabulation contains quantitative income data (e.g., total income, wages), qualitative data based on income concepts (e.g., low income before tax status) or derived data based on quantitative income variables (e.g., indexes) for individuals, families or households, then the following rule applies: income characteristic data are replaced with an 'x' for areas where the population is less than 250 or where the number of private households is less than 40. Source: Statistics Canada - When showing count data, Statistics Canada employs random rounding in order to reduce the possibility of identifying individuals within the tabulations. Random rounding transforms all raw counts to random rounded counts. Reducing the possibility of identifying individuals within the tabulations becomes pertinent for very small (sub)populations. All counts greater than 10 are rounded to a base of 5, meaning they will end in either 0 or 5. The random rounding algorithm controls the results and rounds the unit value of the count according to a predetermined frequency. Counts ending in 0 or 5 are not changed. Counts of 10 or less are rounded to a base of 10, meaning they will be rounded to either 10 or zero. Universe: Full Universe: Private Households in Non-farm Non-band Off-reserve Occupied Private Dwellings with Income Greater than zero. Households examined for Core Housing Need: Private, non-farm, non-reserve, owner- or renter-households with incomes greater than zero and shelter-cost-to-income ratios less than 100% are assessed for 'Core Housing Need.' Non-family Households with at least one household maintainer aged 15 to 29 attending school are considered not to be in Core Housing...

Dwellings by number of bedrooms chart illustrates the most popular types of homes based of bedroom count.