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These “Small” Canadian Real Estate Markets Are Booming

Liveability in small Canadian real estate markets eclipses relative affordability

Price growth expected in all small markets analyzed, with average increases ranging from 3% to 20% in some areas

  • Quality of life factors, or “liveability,” are drawing many Canadian homebuyers to small markets (40 per cent); followed by housing affordability (37 per cent)
  • More than a quarter of people living in larger markets (28 per cent) would like to move to a smaller market in the next two years
  • A quarter of Canadians (25 per cent), have received family support to purchase their first or current home; this number is consistent in large and small markets

Toronto, ON and Kelowna, BC – April 13, 2022 – A new report from RE/MAX Canada finds that “small” Canadian real estate markets are attracting new residents and homebuyers primarily for the liveability factors that they offer, such as green spaces and neighbourhood dynamism, to name a few*, ahead of affordability by a slim margin. The 2022 Small Markets Report analyzed home sales and price trends in the fastest-growing small Canadian housing markets, which are defined as those with the highest population growth rates in 2021, and having a population of less than 440,000, with secondary markets below 100,000**.

Complete Article: https://blog.remax.ca/these-small-canadian-real-estate-markets-are-booming/

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