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Canada real estate: Where home prices have grown the most
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While average home prices across most provinces and territories have cooled considerably since reaching their peak in February, several markets are still seeing prices rise year-over-year.
According to the latest data released by the Canadian Real Estate Association (CREA), major markets such as the Greater Vancouver and Toronto areas, Montreal and Calgary all saw average home prices increase between September 2021 and September 2022. However, smaller real estate markets situated outside of these hubs saw higher annual growth rates by comparison.
This is because rising interest rates have a greater influence on home prices in larger, more expensive markets, said Shaun Cathcart, CREA’s senior economist and director of housing data and market analysis.
“Interest rates have a massively greater impact on places where the price to income ratio is much higher,” Cathcart told CTVNews.ca in an interview on Wednesday. “People need to be borrowing more closely to the limits of the stress test [in more expensive markets].”
Regions that saw home prices balloon during the pandemic, such as Ontario and British Columbia, are now seeing their annual gains shrink as buyers are faced with higher stress test rates, Cathcart said. On the other hand, affordable markets such as the Prairies and Maritimes may not have made the same kinds of gains, but did a better job of holding onto them, he said.
“In some of these more affordable places, [average prices] not only continued to climb for longer in the spring, they’ve also declined by less from then until now,” said Cathcart.
In Victoria, B.C., for example, the average price of a home rose 15 per cent from September 2021 to September 2022. During the same period, average home prices in Saguenay, Que., increased 13.9 per cent. Residents of Yarmouth, N.S., saw the highest annual growth of any real estate market in September 2022 with a rate of 21.7 per cent. These figures are MLS benchmark prices, calculated to reflect price trends based on the majority of homes in a given area.
However, these kinds of price gains are not likely to stick around as rising interest rates continue to drive down home prices, Cathcart said.
“Those year-over-year gains are rapidly shrinking with every month that goes by,” said Cathcart. “[October] might be the last month that you see so many markets that still have year-over-year gains.”
Below is a list of properties CTVNews.ca has gathered that are on sale in markets that have seen some of the highest annual growth rates across the country.
YARMOUTH
(Louisette Higgins, Modern Realty)
Type: House
Price: $339,900
Year Built: 1987
Property Size: 200.67 sq. m
Lot Size: under 0.2 hectares
Price Growth: 21.7 per cent year-over-year
This four-bedroom, two-bathroom home in Yarmouth, N.S., has a fully-fenced backyard, with a new deck and above-ground pool. The main floor has an open-concept living and dining area leading to a kitchen with a breakfast bar. In the basement is a laundry room with access to the backyard, as well as another room that can be used as an office or home gym.
GREATER MONCTON
(Emma Lee Arsenault Photography / Adele Poirier, Keller Williams Capital Realty)
Type: House
Price: $349,900
Year Built: 2007
Property Size: 212.38 sq. m
Lot Size: 322 sq. m
Price Growth: 19.6 per cent year-over-year
Spanning nearly 213 square metres, this two-storey home has three bedrooms and three bathrooms. Hardwood and tile floors run throughout the main level, and the living room includes a propane fireplace. From the dining area, two sliding patio doors lead to a four-season sunroom that can be used year-round. The basement is also completely finished and has a separate side entrance.
ALBERTA WEST
(KLIK Solutions / Lori Gelmici-Hanni, Royal LePage Edson Real Estate)
Type: House
Price: $629,500
Year Built: 2013
Property Size: 147.44 sq. m
Lot Size: 1.59 hectares
Price Growth: 17.7 per cent year-over-year
Laminate flooring and modern finishes run throughout this rural home near Edson, Alta. Designer lighting on the main floor decorates the high ceilings, while the kitchen features granite countertops and an oversized island. Filling the rest of the home are four bedrooms and three bathrooms. A family room occupies the basement, along with a newly renovated bathroom complete with a tiled shower.
VICTORIA
(Spartan Media / Anna Piloyan, Re/Max Camosun Oak Bay)
Type: House
Price: $839,000
Year Built: 1920
Property Size: 89.74 sq. m
Lot Size: 408.77 sq. m
Price Growth: 15 per cent year-over-year
Built in the 1920s, this character home features high ceilings and large windows. The one-storey home also comes with a small, detached garage that can be transformed into a workshop. Perched on a large rock, the house overlooks the Oaklands neighbourhood in Victoria, B.C., and is situated within walking distance of parks, schools and restaurants.
PRINCE EDWARD ISLAND
(Taralynn Arsenault, Palmer Real Estate Group, Keller Williams Select Realty)
Type: House
Price: $399,999
Year Built: 2002
Property Size: 272.39 sq. m
Lot Size: 0.26 hectares
Price Growth: 14.5 per cent year-over-year
This four-bedroom, four-bathroom rural home is located between Charlottetown and Summerside, P.E.I. The secluded lot features patios at the front and back of the house, as well as a gazebo in the backyard. On the main floor is a kitchen, formal dining room, living room and office. The main bedroom on the top floor has an ensuite with a double sink, full shower and separate jet tub.
SAGUENAY
(Saïda Murray, Proprio Direct)
Type: House
Price: $365,000
Year Built: 1974
Property Size: 178.37 sq. m
Lot Size: 0.2 hectares
Price Growth: 13.9 per cent year-over-year
Situated in a quiet neighbourhood in Saguenay, Que., is this four-bedroom, one-bathroom home. The large lot backs onto a forest, and there are no neighbours behind the home. The two-storey house also has a finished basement, and is located near essential amenities as well as the Chicoutimi River.
CALGARY
(Dianne Brown, Re/Max Landan Real Estate)
Type: House
Price: $685,000
Year Built: 1912
Property Size: 79.8 sq. m
Lot Size: 226 sq. m
Price Growth: 11.5 per cent year-over-year
On the main floor of this Calgary home are 10-foot ceilings and a large bay window. The corner lot has one bedroom plus a den, as well as one bathroom. The kitchen features white cabinetry, an exposed brick wall and stainless steel appliances, while the living area has a gas fireplace with a mantle. Oak floors installed when the home was first built in 1912 run across both storeys of the home.
WINDSOR-ESSEX
(Windsor Creative Real Estate Photography / Rick Lescanec, Deerbrook Plus Realty)
Type: House
Price: $699,900
Year Built: 1900
Property Size: 213.68 sq. m
Lot Size: 450 sq. m
Price Growth: 10.8 per cent year-over-year
While it may be more than 100 years old, this Windsor, Ont., home has been restored throughout the years. A brick porch sits at the entrance of the five-bedroom home, which also features custom stonework in the bathrooms. The sunroom leads to a backyard with a deck and gazebo. There is also an open-concept loft with a skylight.
SOUTHEAST SASKATCHEWAN
(Gale Tytlandsvik / Linda Mack, Re/Max Blue Chip Realty)
Type: House
Price: $364,900
Year Built: 1985
Property Size: 119.10 sq. m
Lot Size: 767.29 sq. m
Price Growth: 9 per cent year-over-year
This four-bedroom, three-bathroom bungalow in Estevan, Sask., has had various upgrades since it was built in 1985. In addition to living, dining and kitchen areas on the main floor, the basement features a sizeable family room with built-in cabinetry and a gas fireplace. Also in the basement is a den, storage room and hot tub. The fully fenced backyard includes a deck, garden and two sheds.
NEWFOUNDLAND AND LABRADOR
(Matt Grandy Photography / Jackie Kavanagh, YYT Realty Group- Kavanagh Burke, Royal Lepage Vision Realty)
Type: House
Price: $309,900
Year Built: 1954
Property Size: 212 sq. m
Lot Size: under 0.2 hectares
Price Growth: 8 per cent year-over-year
This 212-square-metre home in St. John’s, N.L., comes with a large updated kitchen, complete with in-floor heating and ceramic tile. Making up the rest of the home is a large living and dining area, as well as four bedrooms and two bathrooms. In the basement is a laundry room and family room. The detached home is situated within walking distance of a hospital and grocery stores.
INTERIOR BRITISH COLUMBIA
(PrimeLight Media / Shannon Stone, Re/Max Kelowna Stone Sisters)
Type: House
Price: $799,900
Year Built: 1940
Property Size: 129.88 sq. m
Lot Size: under 0.4 hectares
Price Growth: 6.1 per cent year-over-year
Located in Kelowna, B.C., this 130-square-metre house is surrounded by greenery. The large backyard serves as the ideal outdoor living space, complete with a concrete patio and flower garden. Inside are two bathrooms, updated to include heated flooring, as well as two bedrooms. The home also has an open-concept living and dining area that connects to the kitchen.
MONTREAL
(Stephanie Rizzuto, The Agency Montreal)
Type: Apartment
Price: $499,000
Year Built: 2015
Property Size: 68 sq. m
Lot Size: N/A
Price Growth: 5.7 per cent year-over-year
Located in Montreal’s Griffintown neighbourhood is this two-bedroom, one-bathroom corner apartment. Nine-foot floor-to-ceiling windows are found throughout the unit, which features an open-concept floor plan and private balcony. In the condominium are amenities such as a picnic area, heated outdoor pool and rooftop terrace with 360-degree views of downtown Montreal.
TORONTO
(John Wilken Open House Media / Sean Miller, Property.ca)
Type: Apartment
Price: $999,000
Year Built: 2022
Property Size: 107.77 sq. m
Lot Size: N/A
Price Growth: 4.3 per cent year-over-year
Polished concrete ceilings in this apartment unit serve as a stark contrast to its modern design. Along with three bedrooms and two bathrooms, this corner unit in Toronto’s Leslieville neighbourhood also has a walk-in closet and a 100-square-foot balcony offering north-facing views of the city. Floor-to-ceiling windows also allow plenty of natural light to seep in.
WINNIPEG
(Nicole Landry-Milner, Re/Max Performance Realty)
Type: House
Price: $389,900
Year Built: 1909
Property Size: 160.91 sq. m
Lot Size: 306.58 sq. m
Price Growth: 2.2 per cent year-over-year
This home in Winnipeg’s Wolseley neighbourhood spans two-and-a-half storeys. Near the entrance is a living room with a fireplace mantel, which leads to dining and kitchen areas. Also on the main floor is a newly renovated bathroom with a walk-in shower. On the upper floor is a laundry facility, two bedrooms and a four-piece bathroom. Meanwhile, the partially finished basement includes a recreation room, bathroom and bedroom.
The head of one of Canada’s largest police forces met with a Sri Lankan inspector general of police who two weeks earlier had been found by the South Asian country’s highest court to have “participated in the torture” of an arrested man.
Photos published by Sri Lankan media, including the Ceylon Today, an English-language daily newspaper, show Peel Regional Police Chief Nishan Duraiappah in uniform posing alongside senior Sri Lankan officers on Dec. 29, 2023 at police headquarters in the capital Colombo – a visit a Peel police spokesperson says Global Affairs Canada and the RCMP had been made aware of ahead of time.
One of the law enforcement officials in the photos was the inspector-general of Sri Lankan police, Deshabandu Tennakoon, who earlier that month was ordered to pay compensation for taking part in “mercilessly” beating a man.
Peel Regional Police Chief Nishan Duraiappah signs a guestbook at Sri Lankan police headquarters in Colombo, as the country’s inspector general Deshabandu Tennakoon stands behind him. Sri Lanka’s Supreme Court found he took part in the torture of an arrested man. (Credit: Ceylon Today).
Ceylon Today
On Dec. 14, 2023, Sri Lanka’s Supreme Court ruled Tennakoon was involved in the brutal arrest of a man suspected of theft, holding him in what the court called the “torture chamber” of the police station for more than 24 hours, striking and suffocating him, and rubbing chili powder on his genitals.
Dr. Thusiyan Nandakumar, a physician who also runs the London, U.K.-based outlet the Tamil Guardian, called it a “stain on Canada’s reputation.”
“To see someone of (Duraiappah’s) stature receive a guard of honour from that very same institution that’s responsible for so many abuses was shocking, to say the least,” Nandakumar said.
Duraiappah declined Global News’ request for an interview. In a statement, a Peel Regional Police spokesperson called his trip to Sri Lanka “personal” and said there is “no ongoing initiative or collaboration between Peel Regional Police and any organization in Sri Lanka.”
Peel Regional Police Chief Nishan Duraiappah wears his uniform and walks by Sri Lankan soldiers in a visit Peel police describe as a “personal” trip. (Credit: Ceylon Today).
Ceylon Today
Duraippah was photographed multiple times during his visit wearing his Peel police uniform.
Rathika Sitsabaiesan – a former NDP MP and Canada’s first Tamil member of Parliament – says when someone wears a uniform, “you’re representing the organization for which you are the chief.”
Duraippah is the only police chief of Sri Lankan descent outside the South Asian nation, according to Peel police, which operates in Mississauga and Brampton, Ont.
“(It’s) very harmful to me as a Canadian, as someone who grew up in the region of Peel, and all the people who continue to live in Peel and who identify as Tamil, in my opinion,” Sitsabaiesan said.
The Peel spokesperson said Duraiappah accepted an invitation from Sri Lankan police officers while he was on a family vacation to the country of his birth.
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The spokesperson would not confirm when asked if Duraiappah had met directly with Tennakoon beyond the photos, which show them holding a plaque together and Tennakoon standing behind Duraiappah while he signed a guestbook.
It’s not clear whether the event photographed was the only meeting or whether any additional ones were held, including whether Duraiappah and Tennakoon met outside of the moment they were photographed together.
Another Peel spokesperson added that “the Chief discussed the requests for meetings received with Global Affairs Canada and the RCMP.”
The RCMP says the force provided information to Duraiappah about Tennakoon, including about the recent court ruling, ahead of time.
“The Government of Canada did not organize the visit, which was considered a personal visit. However, given the RCMP’s close working relationship with Peel Regional Police, the RCMP Liaison Officer for Sri Lanka offered to facilitate Chief Duraiappah with arrangements involving police agencies in Sri Lanka,” an RCMP spokesperson said in response to questions from Global News.
“Information was provided to Chief Duraiappah for his situational awareness about recent developments in Sri Lanka, including the Sri Lankan Supreme Court’s ruling on Chief Tennakoon.”
Global Affairs Canada also said the visit was “personal.”
“The Government of Canada did not organize the visit” and “as is customary for meetings with high-level officials, staff from the High Commission of Canada to Sri Lanka accompanied the Chief as a courtesy,” Global Affairs Canada spokesperson Marilyn Guèvremont said.
Sitsabaiesan says “alarm bells should have gone off” given the country’s human rights record.
In October 2022, Canada adopted a United Nations Human Rights Council resolution calling on Sri Lanka to address the “human rights, economic and political crises” in the country.
The following year it sanctioned four government officials for “human rights violations on the island” and commemorated the Tamil Genocide Remembrance Day for the first time – marking the deaths of tens of thousands of Tamils during the country’s 26-year civil war.
“Canada is well-versed in the crimes that took place. It’s not something that Ottawa is blind to,” Nandakumar said.
While it’s not unusual for western officers to visit, collaborate or train police forces in developing countries, some have recently distanced themselves from Sri Lankan authorities.
In 2021, Scotland ended its training program for officers in the country over allegations of human rights abuses.
In January of this year, the United Nations criticized Sri Lankan police for their “heavy handed” anti-drug crackdown, with reports of arbitrary arrests, torture and public strip searches.
Tennakoon’s recent appointment as police chief shows “much about how law enforcement authorities in the island operate with impunity,” Neil DeVotta, an expert on South Asia and politics professor at Wake Forest University in North Carolina, said in an e-mail to Global News.
Nandakumar says the Peel chief’s visit to the Sri Lankan police headquarters raises questions about judgement.
“When a senior Canadian official goes to meet with forces accused of such egregious crimes … to see something like that take place, it was very disconcerting.”
“I think an apology is needed,” he said.
The RCMP say a body that was recovered by authorities in Washington state is believed to be one of two kayakers reported missing off Vancouver Island on Saturday.
Const. Alex Bérubé said the identity of the body found on San Juan Island, just south of the border, is still to be confirmed by the coroner.
A search has been underway in the waters off Sidney, B.C., about 25 kilometres north of Victoria, since the two kayakers were reported missing.
RCMP previously said Daniel MacAlpine, 36, and Nicolas West, 26, went missing while kayaking from D’Arcy Island to View Beach on Saturday afternoon. They were in a teal blue, fibreglass, two-person kayak.
Police said members of the Central Saanich Police Department and Peninsula Emergency Measures Organization search and rescue were involved in the search, and the Joint Rescue Co-ordination Centre and Canadian Coast Guard were also assisting.
Digital WritersThe Weather Network
Updated on Apr. 23, 2024, 1:30 PM
Prepare for multiple rounds of April snowfall this week, as Labrador braces for wintry conditions. This onslaught of snow is expected to blanket the region, potentially leading to hazardous travel conditions and disruptions throughout the week
As we march even deeper into the heart of the spring season, many parts of Canada are finding it tough to find any consistent signs of warming weather. Add to the mix periods of snow and wintry precipitation, and it’s safe to say the winter season is certainly not going out without a strong fight.
This week, parts of the East Coast will bear the brunt of the winter weather, with multiple rounds of April snowfall stacking up in Labrador. The chances for snow flurries will stick around all week long, bringing as much as 25 cm for some.
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Although 25+ cm of snow in April may seem extreme, for this part of the country, it’s definitely nothing out of the ordinary. In fact, the month as a whole brings about 40-50 cm of snow to Labrador on average.
Some communities, including Nain, even have snowfall chances stretch all the way into June!
“This week will be a little bit different however, as some regions could reach about half of Labrador’s monthly averages alone,” says Rachel Modestino, a meteorologist at The Weather Network. “The first round on Tuesday will pack quite the punch, with heavy snow and gusty winds stretching from Labrador city to the coast.”
Winds will be gusting between 70-90 km/h at times, and travel conditions will likely deteriorate quickly due to potential whiteouts and reduced visibility.
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