The average sales price decreased for all property types in Greater Vancouver, Canada in 2023. Buying a condo as of January 2023 would cost a home buyer about ******* Canadian dollars. Greater Vancouver is one of Canada's most important economic centers. It consists of ** municipalities, including Vancouver City, Surrey, Burnaby, Richmond, Coquitlam, and other.

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.

Graph and download economic data for Real Residential Property Prices for Canada (QCAR628BIS) from Q1 1970 to Q1 2025 about Canada, residential, HPI, housing, real, price index, indexes, and price.

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.

New housing price index (NHPI). Monthly data are available from January 1981. The table presents data for the most recent reference period and the last four periods. The base period for the index is (201612=100).

Canada House Price Index: Annual: New Housing: British Columbia: Vancouver data was reported at 128.483 Dec2016=100 in 2024. This records an increase from the previous number of 128.233 Dec2016=100 for 2023. Canada House Price Index: Annual: New Housing: British Columbia: Vancouver data is updated yearly, averaging 88.304 Dec2016=100 from Dec 1981 (Median) to 2024, with 44 observations. The data reached an all-time high of 128.525 Dec2016=100 in 2022 and a record low of 64.208 Dec2016=100 in 1985. Canada House Price Index: Annual: New Housing: British Columbia: Vancouver 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.

Residential real estate prices fell across most markets in Canada in 2023; however, two markets, North Bay and Sault Ste. Marie, ON, experienced double-digit growth. Metro Vancouver, one of Canada's most expensive markets for housing, recorded house price growth of **** percent. According to the forecast, prices are expected to increase in most markets under observation. In Vancouver, the increase is forecast at *** percent.

Housing Index in Canada decreased to 123.70 points in May from 124 points in April of 2025. This dataset provides - Canada New Housing Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The house price ratio in Canada peaked in the second quarter of 2022, followed by three quarters of decline and a slight rebound in 2023. 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 third quarter of 2024 amounted to *****, which means that house price growth has outpaced income growth by almost ** percent since 2015. Canadian home prices are fallingAfter several years of steady increase, Canadian house prices were forecast to fall slightly in 2023. This was also the case in British Columbia, which has consistently been the most expensive province for housing. This is likely because Vancouver, Canada's most expensive city, is located there. Canadian incomes on the riseIncomes 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 Canadian housing market, particularly in major urban centers, has experienced a prolonged period of rapid price appreciation, driven by factors such as low interest rates, strong population growth, and limited supply. According to the Canada Mortgage and Housing Corporation (CMHC), the national average house price rose by more than 50% between 2020 and 2022, with prices in some major cities, such as Toronto and Vancouver, increasing by even more. This rapid price growth has made it increasingly difficult for many Canadians to afford a home, especially in the country's most desirable markets. However, the Canadian housing market is starting to show signs of cooling in 2023, as rising interest rates and stricter mortgage lending rules from the government begin to take effect. The CMHC predicts that the national average house price will decline by 7.6% in 2023, with prices in some markets, such as Toronto and Vancouver, expected to fall by even more. This cooling is expected to continue in 2024, with the CMHC predicting a further decline in the national average house price of 3.2%. The long-term outlook for the Canadian housing market is more uncertain, but the CMHC expects that prices will continue to rise, albeit at a more moderate pace. The Canadian housing market is one of the most expensive in the world, with prices in major cities like Toronto and Vancouver soaring to record highs in recent years. This has led to a growing concern about affordability, as many Canadians are being priced out of the market. Key drivers for this market are: Increasing Adoption of Remote and Hybrid Work Model. Potential restraints include: Lack of Privacy. Notable trends are: Pandemic Accelerated Luxury Home Sales in Major Canadian Markets.

Canada Construction Price Index: Residential: Single Detached House: Vancouver data was reported at 106.900 2023=100 in Mar 2025. This records an increase from the previous number of 106.200 2023=100 for Dec 2024. Canada Construction Price Index: Residential: Single Detached House: Vancouver data is updated quarterly, averaging 75.800 2023=100 from Mar 2017 (Median) to Mar 2025, with 33 observations. The data reached an all-time high of 106.900 2023=100 in Mar 2025 and a record low of 59.100 2023=100 in Mar 2017. Canada Construction Price Index: Residential: Single Detached House: Vancouver data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.EA011: Construction Price Index: 2023=100.

The Canadian commercial real estate market, valued at $77.09 billion in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 7.59% from 2025 to 2033. This expansion is driven by several key factors. Firstly, Canada's strong economy and increasing population fuel demand for office, retail, and industrial spaces. Urbanization and population growth, particularly in major cities like Toronto, Vancouver, and Calgary, are significant contributors. Furthermore, ongoing investments in infrastructure and technological advancements are enhancing the attractiveness of commercial properties. The growth is segmented across various property types, with office spaces benefiting from a return to the workplace following the pandemic, and the industrial sector experiencing sustained growth fueled by e-commerce expansion and supply chain optimization initiatives. The hospitality sector is also poised for recovery, driven by increased tourism and business travel. However, the market is not without its challenges. Rising interest rates and inflation present significant headwinds, impacting construction costs and potentially reducing investment activity. Government regulations and environmental concerns related to sustainable development also influence market dynamics. Competition among developers and brokerage firms remains intense, impacting pricing and profitability. Despite these restraints, the long-term outlook for the Canadian commercial real estate market remains positive, driven by fundamental economic strengths and a growing population. Strategic investments in key areas, such as sustainable building practices and technological integrations, will be crucial for developers and investors to succeed in this evolving landscape. The diverse market segments, from office towers to industrial parks, each offer unique opportunities for growth and investment within the Canadian commercial real estate sector. Recent developments include: June 2023: Prologis, Inc. and Blackstone announced a definitive agreement for Prologis to acquire nearly 14 million square feet of industrial properties from opportunistic real estate funds affiliated with Blackstone for USD 3.1 billion, funded by cash. The acquisition price represents an approximately 4% cap rate in the first year and a 5.75% cap rate when adjusting to today's market rents., May 2023: An experiential real estate investment trust, VICI Properties Inc., announced that it had signed agreements to buy the real estate assets of Century Casinos, Inc.'s Century Downs Racetrack and Casino in Calgary, Alberta, Century Casino St. Albert in Edmonton, Alberta, and Century Casino St. Albert in St. Albert, Alberta, for a total purchase price of USD 164.7 million. This move demonstrates both their continued drive to grow abroad and their faith in the Canadian gaming industry. They are also excited to assist Century's asset monetization strategy, which will open up new opportunities for their cooperation.. Key drivers for this market are: Evolution of retail sector driving the market, Office spaces in Toronto and Vancouver are increasing. Potential restraints include: Evolution of retail sector driving the market, Office spaces in Toronto and Vancouver are increasing. Notable trends are: Evolution of retail sector driving the market.

Graph and download economic data for Regional Price Parities: Services: Housing for Portland-Vancouver-Hillsboro, OR-WA (MSA) (RPPSERVERENT38900) from 2008 to 2023 about Portland, OR, PPP, rent, WA, services, price, and USA.

In the first quarter of 2023, the average sales price of detached single-family homes in Canada was approximately ******* Canadian dollars. Nevertheless, house prices varied greatly across different markets. For example, in Vancouver, housing was more than twice as expensive as the national average. The market with the most affordable housing was Saint John, where the average single-family detached home sold for approximately ******* Canadian dollars. In comparison to house prices, the average sales price of condominium apartments in all Canadian markets was lower.

The Canadian residential construction market exhibits robust growth potential, driven by a consistently increasing population, urbanization trends, and government initiatives promoting affordable housing. The market, valued at approximately $100 billion CAD in 2025 (estimated based on provided CAGR and market size information), is projected to experience a Compound Annual Growth Rate (CAGR) exceeding 5% through 2033. This expansion is fueled by strong demand in major cities like Toronto, Vancouver, Calgary, and Montreal, where population density and economic activity are high. While rising material costs and labor shortages pose challenges, innovative construction techniques and technological advancements are mitigating these restraints to some extent. The market segmentation reveals a significant share for multi-family dwellings, reflecting the increasing preference for apartments and condos in urban centers. The leading players, including PCL Construction, EllisDon, and others, are strategically positioning themselves to capitalize on this growth, focusing on sustainable and efficient building practices. The forecast indicates continued expansion across diverse segments. Single-family home construction, while vital, will likely witness more moderate growth compared to the multi-family segment. Regional variations will persist, with larger metropolitan areas experiencing faster growth than smaller cities and rural areas. Government policies influencing mortgage rates, building permits, and environmental regulations will play a critical role in shaping market trajectories. The continued focus on sustainable construction, energy efficiency, and smart home technologies will further drive innovation and attract investment in the sector. However, sustained economic growth and stable interest rates are crucial to maintain this positive momentum. Ongoing monitoring of inflation and material prices will be vital for accurate forecasting. Recent developments include: September 2022: PCL Construction was awarded Kindred Resort - Keystone's first major development in River Run in 20 years. This USD 184 million, 321,000 square-foot mixed-use development, designed by OZ Architecture, will consist of 95 luxury ski-in/ski-out condominiums and a 107-key full-service hotel, all just steps away from the River Run Gondola at Keystone Ski Resort. The development also includes 25,000 square feet of commercial space for restaurants, retail, and amenities including a pool, spa, fitness center, ski club, and event space. Preliminary construction activities are underway to relocate utilities. Construction will continue year-round and is scheduled for completion in June 2025., January 2023: PCL Construction broke ground on Schnitzer West Living's luxury residential community, the Avant, in the Denver Tech Center. The Avant is situated on the corner of Greenwood Plaza Boulevard and East Caley Avenue. The property includes 337 highly curated for-rent residences, complete with modern amenities and a two-level indoor structured parking garage with a capacity for roughly 450 cars. Residents will enjoy commanding views of the surrounding mountains year-round from their homes and the property's outdoor pool and hot tub. The property is Schnitzer West's first multifamily residential building, bringing luxurious living experiences to Denver's Tech Center.. Notable trends are: Drop in Building Permits Due to High Interest Rates.

The average sale price of residential real estate in Oakville, which is part of the Greater Toronto Area, amounted to almost *** million Canadian dollars in 2023. In Vancouver, a single family home cost about *** million Canadian dollars. According to the forecast, many of the major markets are expected to see home prices increase slightly in 2024 in most markets.

In late 2023, data centers were the type of building with the highest construction costs in Vancouver. That year, construction costs of hospitals stood between 670 and 850 Canadian dollars per square foot. Light and heavy industry buildings had the lowest construction costs. These costs are similar to those of other big Canadian cities, such as Montreal.

In November 2024, 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 ******* 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 2023, the ratio of homeownership costs to income was **** percent. Nevertheless, more expensive locations in the country had a higher ratio, with Vancouver exceeding 100 percent, suggesting that on average, mortgage payments exceeded the monthly income. Amid lower affordability and worsening homebuyer sentiment, house prices in some of Canada's markets are forecast to decline slightly in 2024.

建筑业价格指数：住宅：独立式住宅：温哥华在03-01-2025达106.9002023=100，相较于12-01-2024的106.2002023=100有所增长。建筑业价格指数：住宅：独立式住宅：温哥华数据按季更新，03-01-2017至03-01-2025期间平均值为75.8002023=100，共33份观测结果。该数据的历史最高值出现于03-01-2025，达106.9002023=100，而历史最低值则出现于03-01-2017，为59.1002023=100。CEIC提供的建筑业价格指数：住宅：独立式住宅：温哥华数据处于定期更新的状态，数据来源于Statistics Canada，数据归类于全球数据库的加拿大 – Table CA.EA011: Construction Price Index: 2023=100。

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.