Here's What Ontario House Prices Will Look Like Next Year & You Should Avoid These 6 Spots
We see you, Oakville. 👀
Torontonians are likely tired of hearing just how frickin' expensive it is to own a home, but (surprisingly) the city doesn't have the priciest real estate across the province.
A recent report from RE/MAX predicted what Ontario's house prices will be in the coming year, and it's getting even more expensive - but it seems like this is happening all across the country.
With more and more people moving between provinces, RE/MAX points to inter-provincial migration as one of the key contributing factors for pushing these prices up. That, and the continuous housing supply shortage.
"As a result of these factors, RE/MAX Canada estimates a 9.2% increase in average residential sales prices across the country," the report stated.
Bearing all of this in mind, the RE/MAX broker network in Ontario predicts the most expensive place to buy real estate in 2022 will be in Oakville with the average residential costs increasing by 7.5% and coming out at a whopping $1,696,645.63.
Following that is York Region, with their average prices going up by 10% and costing $1,403,767.20. The 6ix didn't even come in at third though it did crack the top five list (of course.)
The cheapest spot to buy real estate in Ontario next year will be all the way up in Thunder Bay, with their residential house prices coming out at $300,685.73 on average.
According to RE/MAX, the six priciest places to buy a home in Ontario next year will be:
- Oakville, $1,696,645.63
- York Region, $1,403,767.20
- Burlington, $1,244,085.57
- Brampton, $1,172,250.36
- Toronto, $1,160,491.20
- Mississauga, $1,150,265.70
