What An Average Canadian House Will Buy You Around The World

Posted: Updated:

The average house price in Canada hit $413,000 in June, an all-time record and a 7-per-cent jump from a year earlier. The average home in Canada today is worth $100,000 more than it was just five years ago. Little wonder many experts are wondering whether there is a correction in the cards.

Looking at residential markets around the world, Canada looks expensive for sure. For the average house price in Canada, you can buy a mountain chalet in central Europe, a country house in the south of France, or a slick upscale bungalow in South Africa.

But that same amount of money would only get you a modest 500-square-foot apartment in south London, or a 400-square-foot studio apartment in lower Manhattan. So we can take comfort knowing that, while prices may be high, they're not the highest in the world.

Check out the video above to see what an average Canadian house will get you around the world.

Also on The Huffington Post

Most Expensive Cottage Countries In Canada (2014)
Share this
Current Slide

Suggest a correction

Around the Web

Buoyant mood keeps Toronto housing market brisk

House Hunting in ...Newfoundland

Why Fitch is sticking to its 20% Canadian home price overvaluation

Housing market skewed by handful of hot cities, Canada Guaranty CEO says