The most desirable hotspots have been revealed
A study conducted by real estate experts from KelownaHomes.ca has revealed the top 10 areas in Canada considered to be the most desirable places to live in.
“It’s fascinating to see which areas are becoming the newest hotspots to live in,” a spokesperson from KelownaHomes.ca said.
Canada’s most desirable area to live
Based on data gathered from the Canada Real Estate Association, Powell River in British Columbia is the most desirable area to live in. It had a 40.5% rise in average house prices within the past year.
“This could be due to the city being the largest and most accessible community on the Sunshine Coast,” the KelownaHomes.ca spokesperson said.
“It also offers a mixture of business, culture and nature, including lakes, beaches and plentiful outdoor recreation,” they added.
What were the other desirable areas to live in, in Canada?
Sherbrooke, in Quebec, took the second spot with a 29% increase in house prices from 2022. The average house price in the area costs $515,155. Brandon, in Manitoba, took third place with a 24.5% increase as well as the second lowest average house price out of all the areas in the top 10.
Trois-Rivières, in Quebec, was in fourth place with a 21.4% increase in average house prices in the past year. This was followed by Lloydminster, in Alberta (+17.5%), in fifth, Thunder Bay, in Ontario, and Kelowna, in British Columbia (+14%) in joint sixth place, Cape Breton, in Nova Scotia (+12.6%), in seventh, Lethbridge, in Alberta (+12.3%), in eighth, Central Alberta (+12.1%) in ninth, and Annapolis Valley (+10.8%) in tenth.
“The study not only highlights which specific areas are the most desirable but territories too,” said the spokesperson.
“The research shows that Northwest Territories are experiencing a huge 45.5% increase in average house prices from last year, while Yukon is the only territory to suffer a decrease in average house prices.”
Notably, Portage La Prairie, Alberta Wes and Bancroft & Area were the areas that saw the largest decrease when it comes to average house prices.
