If you’re considering buying a home in Ontario, chances are you’re already familiar with the most expensive areas to avoid looking at. However, you may not know the best places to buy real estate in Ontario— luckily, this new report has the answers.
This recent report by Zoocasa and MoneySense analyzes the regions and neighbourhoods across Canada that offer the most value to home buyers in 2023.
With a purchase as large as this one, it certainly doesn’t hurt to explore your best options!
Compiled using CREA home price data and other neighbourhood economics data, the study ranks the best areas to buy a house in Canada.
Each region is ranked based on its benchmark price for 2022, and first, third, and fifth-year growths.
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The benchmark price reflects all property types, including attached and detached homes, townhouses, row units, and apartment units.
So with that in mind, here are the best places to buy real estate in Ontario right now and the 2022 benchmark price for all property types.
- Sault Ste. Marie: $292,208
- North Bay: $413,525
- Bancroft and district: $506,875
- Tillsonburg and district: $627,167
- Sudbury: $437,033
- Windsor-Essex: $618,692
- Rideau St. Lawrence: $580,050
- Huron Perth: $597,800
- Quinte and district: $598,858
- Kawartha Lakes: $722,583
- Kingston and area: $587,950
- Peterborough and the Kawarthas: $729,800
- Simcoe and district: $618,475
- Woodstock-Ingersoll: $723,508
- Northumberland Hills: $778,142
- Brantford region: $754,317
- London-St. Thomas: $659,583
- Niagara Region: $728,025
- Lakelands: $753,050
- Barrie and district: $889,800
- Grey Bruce-Owen Sound: $599,575
- Ottawa: $673,550
- Cambridge: $822,292
- Guelph and district: $896,308
- Kitchener-Waterloo: $808,867
- Hamilton-Burlington: $928,675
- Greater Toronto Area: $1,195,950
- Mississauga: $1,184,858
- Oakville-Milton: $1,401,042
You can also take a look at the report on MoneySense for a detailed breakdown of the 1-year and 3-year growth for each region.
Each region is also assigned a value score from 0 to 5. The report says that 5 represents the most value and 0 represents the least.
Only two regions in Ontario — Sault Ste. Marie and North Bay — have earned a value score that’s greater than 4.
So if affordability is at the top of your priority list when buying your next home, you know where to look!
