According to point2homes.com, Canadian cities take the extremes: 6 markets make it in the top biggest home price hikes, while the other 6 markets on the list show up with the most modest changes. Here are the findings that might be of interest you:
- Montreal home prices jumped 18% in the last 5 years, placing the city on the 9th spot among the North American markets with the smallest price changes;
- Compared to other large cities across the country – Toronto (59%) or Vancouver (68%) – Montreal’s 18% price increase seems modest;
- This percentage change means homebuyers in Montreal need to pay an additional $52,841 for the average home compared to 5 years ago;
- The growth momentum is there and there are no signs of cooling, but it’s safe to say that it will be a while until home price jumps in Montreal reach the crazy hikes of Toronto, Vancouver and Surrey;
- The only Canadian cities that have smaller price jumps than Montreal are Quebec City and Winnipeg. Calgary and Edmonton actually recorded price drops in the last 5 years.