Median house prices in Canada 2018-2020

The average Canadian house price in 2020 was forecasted to be 531,000 Canadian dollars, up from 488,862 Canadian dollars in 2018. The forecast shows that prices are set to rise over the three year period.

Home sales also falling

The number of housing units sold is also set to rise over the three year period. British Columbia and Ontario have traditionally been housing markets with prices above the Canadian average, but the BC market is set to cool in 2019. There are several reasons for this, including the foreign buyers tax, higher interest rates and more stringent mortgage qualification rules.

Consumer confidence in real estate remains high

However, Canadians overwhelmingly believe that property values will either increase or remain the same. This confidence stands in stark relief to the forecasts, but only time will tell whether consumer confidence will prove the analysis wrong.

Median house prices in Canada from 2018 to 2020

Price in Canadian dollars
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Source

Release date

December 2019

Region

Canada

Survey time period

2018

Supplementary notes

*Forecast.

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Statistics on "Residential housing in Canada"

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