Is Saskatchewan the Place to be?

 

The home prices in some areas of Regina and Saskatoon have almost tripled since 2008. That’s a significant increase, and much higher than the increases in Toronto and Vancouver.

Many of the Saskatchewan ex-pats are returning. The Province’s economy is now booming due to potash and oil. It has the lowest unemployment rate in the country. 

Right now, there’s a building boom. New subdivisions are sold out during the pre-construction stage. Since the existing supply is not sufficient to keep up with demand, the prices are going up. It all makes a lot of sense. That’s how the economy works.

However, the prices have now escalated to the point where people from many regions of the country will be paying a “premium” if they were to move there. But, it’s still a good deal if you’re from Toronto or Vancouver.

From the beginning of 2008 prices in some areas have gone from $100,000 to $300,000. That’s a 200% increase.

By comparison, the average price in the Greater Toronto Area went from $374,449 to $476,947 over that same time period. That’s a 27.37% increase. Clearly, you would have been much better off in Saskatchewan.

Brian Madigan LL.B., Broker is a Manager at RE/MAX West Realty Inc., Brokerage 416-745-2300.
www.OntarioRealEstateSource.com

Picture Provided By:


Complete the information below to become a registered user of this website. Registration unlocks features throughout this website.

Once you have registered an email will be sent to your email address with confirmation instructions.

All fields are required.