United Airline
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Average Price For Properties In Vancouver/Toronto

Sun Sep 14, 2003 10:30 pm

Does anyone have the figures for both Vancouver and Toronto? I suppose Toronto is more expensive right?

It seems that me that both Vancouver and Toronto are more expensive than Sydney and Melbourne (Australia) in terms of properties, as well as for other things. I read it somewhere even.
 
buckfifty
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RE: Average Price For Properties In Vancouver/Toronto

Sun Sep 14, 2003 11:50 pm

Actually, from what I've seen personally, Sydney and Melbourne is a bit more dear to live in compared to Vancouver and Toronto respectively. While I cannot give you any concrete figures, as I only glance at real estate occasionally when it comes up in my mind. In any case, the housing market in Australia is still on the up, and the one in Canada isn't doing as well.

The bullish Aussie dollar doesn't help matters either.
 
United Airline
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RE: Average Price For Properties In Vancouver/Toronto

Mon Sep 15, 2003 12:16 am

You sure? Coz in a few of the surveys I read Sydney is not as expensive as Vancouver and Toronto. At least not Toronto coz it is a bigger city.

Australia is one of the cheapest places to live I think. And I think properties are more expensive in YVR and YYZ.

Does anyone have the actual figures?
 
buckfifty
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RE: Average Price For Properties In Vancouver/Toronto

Mon Sep 15, 2003 12:36 am

I know for certain that property prices in Sydney is much more extravagant than prices in Toronto, especially after the Sydney Olympics. The current housing boom in itself is driving up real estate prices in Sydney by an averate of over 10% per annum. Can't say the same for Toronto, really, though real estate in Toronto is still pretty expensive. Vancouver's claim to fame is North Vancouver, but if you go to places like Surrey and Richmond, the housing isn't so bad.

And I don't know what surveys that you've read, but Toronto isn't bigger than Sydney. That's unless if you cheat, and count the entire golden horseshoe in that equation.
 
United Airline
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RE: Average Price For Properties In Vancouver/Toronto

Mon Sep 15, 2003 12:53 am

What about in terms of population???

West Vancouver is the richest area in Vancouver. Houses are pretty expensive there. Some are really expensive.

 
buckfifty
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RE: Average Price For Properties In Vancouver/Toronto

Mon Sep 15, 2003 12:57 am

Sydney has a population of over 4 million people, Toronto struggles to get 3 million.
 
United Airline
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RE: Average Price For Properties In Vancouver/Toronto

Mon Sep 15, 2003 1:00 am

Oh ok.

So which country has more people? Canada or Australia? I would say Canada right?
 
delta-flyer
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RE: Average Price For Properties In Vancouver/Toronto

Mon Sep 15, 2003 1:03 am

You have to look at housing prices relative to family income and tax impacts - property taxes, income tax breaks (if any), etc. Also, you need to consider comparable locations - not just median prices. The currency value is not important if you will earn a living there, unless you are moving in from abroad in which case there would be a one-time impact at the time of purchase.

Pete
"In God we trust, everyone else bring data"
 
buckfifty
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RE: Average Price For Properties In Vancouver/Toronto

Mon Sep 15, 2003 1:06 am

Canada does have more people than Australia, by about 1/3.
 
buckfifty
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RE: Average Price For Properties In Vancouver/Toronto

Mon Sep 15, 2003 1:17 am

You have to look at housing prices relative to family income and tax impacts - property taxes, income tax breaks (if any), etc. Also, you need to consider comparable locations - not just median prices. The currency value is not important if you will earn a living there, unless you are moving in from abroad in which case there would be a one-time impact at the time of purchase.


What you're referring to is the cost of living index. In a general sense, that can vary with general comparisons of real estate prices, yet most of these indexes are generally driven by the cost of real estate, among other factors.

However, in the current comparo we're dealing with, Canada still has an overall lower COL index than Australia does. (104 to 115 on a site I just checked out). And Sydney has a current world ranking of 67th, whereas Vancouver ranks out at 104th, Toronto at 110th, and Melbourne at 111th.
 
 
United Airline
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RE: Average Price For Properties In Vancouver/Toronto

Mon Sep 15, 2003 1:42 am

Hong Kong was number 1 last year, according to this survey. For properties, Hong Kong and Singapore are DEFINITELY more expensive than Sydney due to the lack of land. Also New York and London I am sure.

So Vancouver is actually more expensive than Toronto. And Sydney is more expensive than Vancouver. Never realized this coz the survey I read showed that Toronto is above Vancouver and Vancouver is above Sydney. Interesting.

Thanks Buckfifty.

So what's the average price for properties in Vancouver and Toronto?????
 
United Airline
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RE: Average Price For Properties In Vancouver/Toronto

Mon Sep 15, 2003 1:46 am

Not sure about which country is more expensive as a whole. Sydney is probably more expensive than Vancouver and Toronto but I think as a country, Canada is more expensive. Can anyone confirm that?

Umm....... That's an award that no country would like to win however.
 
VonRichtofen
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RE: Average Price For Properties In Vancouver/Toronto

Mon Sep 15, 2003 1:58 am

"Sydney has a population of over 4 million people, Toronto struggles to get 3 million."

Ummm....Toronto's population is approximately 6 million....

 
buckfifty
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RE: Average Price For Properties In Vancouver/Toronto

Mon Sep 15, 2003 2:05 am

Ummm....Toronto's population is approximately 6 million....

That's if you put the surrounding municipalities together. Toronto proper is only 3 million.
 
Airbus Lover
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RE: Average Price For Properties In Vancouver/Toronto

Mon Sep 15, 2003 7:42 am

I can confirm that this time around, houses in the Greater Vancouver area have had their value increased tremendously.
 
Guest

RE: Average Price For Properties In Vancouver/Toronto

Mon Sep 15, 2003 9:10 am

I’m a little confused with the calculation of Toronto’s population. According to StatCan, the GTA (not including Hamilton or other far Golden Horseshoe municipalities) has about 4.7 million people and the city itself is about 2.5 million. And now some are saying that Toronto’s metro area is only 3 million? Where did you guys get that figure?

Anyways, I lived in Toronto briefly in 1999 and I found it outrageously expensive compared to Alberta, where I grew up. My sister lives there right now and she thinks the same thing. I never looked into buying property in Toronto, but I’m told by relatives residing in the GTA that property values are very high. And it wouldn’t surprise me, considering that more than half the immigrants who come into Canada go directly to the GTA. That’s adding at least 125,000 people each year, not including others who migrate from within Canada.

I also have relatives in Vancouver and they tell me that it’s outrageously expensive to buy a home there. But I hear property values have stabilized now. Not to say that prices have gone down, but they haven’t shot up as much. I think Vancouver still has the highest property values in Vancouver, and among the highest in North America.

From what I gather, Toronto and Vancouver property values have stabilized and are not shooting up the way they were a few years ago. Prices in Alberta, however, are skyrocketing. Calgary and Edmonton are getting pretty expensive now because of all the newcomers moving from Toronto and Vancouver to escape the sky-high costs of living in those cities. My family tell met the property values in Alberta and they seem to noticeably increase every few months.

I can’t comment on Australia because I’ve never been there. I would imagine that Sydney would be a very expensive place to live if anything for its location. How would it compare to Toronto or Vancouver? I’d say Sydney would be more expensive than Toronto for sure by virtue of having a much better climate and being on the ocean. I don’t think it would be as expensive as Vancouver though.
 
United Airline
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RE: Average Price For Properties In Vancouver/Toro

Mon Sep 15, 2003 12:10 pm

Vancouver is probably a bit more expensive. But Hong Kong, Singapore and New York are DEFINITELY more expensive than Sydney in terms of properties.

I live in Sydney and I think the price index in Sydney is very reasonable.
 
spyderz
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RE: Average Price For Properties In Vancouver/Toronto

Tue Sep 16, 2003 12:08 pm

West Vancouver has the highest property value out of anywhere in Canada, and if you've been there, you'll understand why. It's really subjective since both cities have parts that are expensive and other areas that aren't so much.
 
United Airline
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RE: Average Price For Properties In Vancouver/Toronto

Wed Sep 17, 2003 12:07 am

Especially the ones up the peak at Crestline.
 
rindt
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RE: World's Ugliest People?

Wed Sep 17, 2003 5:59 am

The most expensive properties in Canada are located in Vancouver, and West-Vancouver ("Shaugnessy" and "British Properties" respectively). A house over $10mill. isn't unheard of. As for the average, it's probably between $400,000-$500,000CDN.

-Rob
What other people think of you is none of your business!
 
United Airline
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RE: Average Price For Properties In Vancouver/Toronto

Wed Sep 17, 2003 12:08 pm

I would say British Properties is the most expensive area, especially those facing the harbour.

YES there are houses over $ 10 million, the most expensive ones.

 
Jayce
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RE: Average Price For Properties In Vancouver/Toronto

Thu Sep 18, 2003 12:54 pm

Today I was driving through Shaughnessy, South Granville, Kerrisdale and Kitsilano Beach, and I saw a few houses for sale. Just for fun, my friend and I looked up some prices and the average was slightly under $1 million!

Though as Rob said, these are some of the most expensive areas in Canada.

I believe the British Properties is the richest neighborhood in Canada, and the Downtown Eastside, which is only a few miles away, is the poorest neighborhood in Canada.
"Trying is the first step towards failure" -Homer Simpson
 
United Airline
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RE: Average Price For Properties In Vancouver/Toronto

Thu Sep 18, 2003 1:03 pm

There are many Ex- Hong Kong people at British Properties.
 
DETA737
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RE: Average Price For Properties In Vancouver/Toronto

Fri Sep 19, 2003 1:51 pm

I was house shopping last year and there is absolutely nothing in the west end below $450k as far as houses go and they only get decent at above $650k. West Van is really expensive but it rains even more there than in Vancouver. You can get houses cheaper in Surrey, Burnaby or Coquitlam, but that requires living in there. I live in Yaletown in a condo and it's great, they usually start around $180k for a 1 bedroom and $220 for a 2 bedroom. I don't know much about Toronto but I know that the houses in Rosedale start around $850k and go up much higher than that.
 
United Airline
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RE: Average Price For Properties In Vancouver/Toronto

Fri Sep 19, 2003 5:29 pm

How much does the most expensive house in Canada cost???? Also, where is it?

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