The average house price in British Columbia amounted to 848,200 Canadian dollars in 2020, but it was estimated to rise to 991,400 Canadian dollars by 2022. House prices in British Columbia have consistently been higher than in any other Canadian province.
Affordability in Vancouver
Vancouver is the most populous city in British Columbia and is also infamously expensive for housing. Vancouver was the least affordable housing market in Canada in 2020. 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 1.2 million Canadian dollars in 2020.
Average house prices in Canada from 2014 to 2020 with a forecast up to 2022 with, by province
(in thousand Canadian dollars)
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TD Bank. (June 30, 2021). Average house prices in Canada from 2014 to 2020 with a forecast up to 2022 with, by province (in thousand Canadian dollars) [Graph]. In Statista. Retrieved January 22, 2022, from https://www.statista.com/statistics/587661/average-house-prices-canada-by-province/
TD Bank. "Average house prices in Canada from 2014 to 2020 with a forecast up to 2022 with, by province (in thousand Canadian dollars)." Chart. June 30, 2021. Statista. Accessed January 22, 2022. https://www.statista.com/statistics/587661/average-house-prices-canada-by-province/
TD Bank. (2021). Average house prices in Canada from 2014 to 2020 with a forecast up to 2022 with, by province (in thousand Canadian dollars). Statista. Statista Inc.. Accessed: January 22, 2022. https://www.statista.com/statistics/587661/average-house-prices-canada-by-province/
TD Bank. "Average House Prices in Canada from 2014 to 2020 with a Forecast up to 2022 With, by Province (in Thousand Canadian Dollars)." Statista, Statista Inc., 30 Jun 2021, https://www.statista.com/statistics/587661/average-house-prices-canada-by-province/
TD Bank, Average house prices in Canada from 2014 to 2020 with a forecast up to 2022 with, by province (in thousand Canadian dollars) Statista, https://www.statista.com/statistics/587661/average-house-prices-canada-by-province/ (last visited January 22, 2022)
