House prices Canada 2014-2018, by province

The average house price in British Columbia amounted to 852,900 Canadian dollars in 2018, but it was estimated to fall to 832,000 Canadian dollars by 2020. House prices in British Columbia have consistently been higher than in any other Canadian province. This is the first time since 2014 that BC home prices will fall, if the forecast is accurate.

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 2017. 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. However, the house prices in the most expensive suburbs of Victoria did drop slightly between 2018 and 2019. This reflects the forecast for house prices in the entire province until 2020.

Average house prices in Canada from 2014 to 2018, by province

201420152016201720182019*2020*
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Sources

Release date

April 2019

Region

Canada

Survey time period

2014 to 2018

Supplementary notes

*Forecast by TD Economics as of March 2019.

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