With the record highs that are being reported in both the Toronto and Calgary real estate markets, it's nice to know that there are some small isolated pockets where home prices are still affordable. According to Brookfield RPS, 3 of the best performing home markets in Canada are located in Airdrie, Alberta, East Gwillimbury, Ontario and Saint-Colomban, Quebec.
The 2011 population in this small town was reported as 13,008. Located about 70 km away from Montréal, the average price for a home here is $285,000. When you compare that to the average price of $370,000 that you’d have to pay in Montréal, it's quite a difference.
East Gwillimbury, Ontario
In 2011 the population in this town was 22,473. It is situated just 56 km away from Toronto. While you’d have to pay $665,000 for an average home in Toronto, you can find one in this small community for an average price of $285,000. At that price, it may just be worth the small commute to get into the city.
Closer to home we have this little real estate gem called Airdrie. In 2011 the population in the town was 42,564. It's just 36 km to the north of Calgary and here you'll find the average home priced at $380,000. When you compare this price to the higher price tag of $450,000 that you'd have to pay for a home in Calgary, Airdrie is well worth a look.
Brookfield Real Property Solutions is an asset management company and a leading provider of business intelligence and real estate valuation for residential properties in Canada. It's also the largest provider of mortgage-related outsourced services and business intelligence for residential real estate. These services are provided to financial institutions, real estate businesses, major banks and mortgage brokers across Canada.