Last month, Zoocasa partnered with MoneySense for the third year in a row to find the best places for prospective buyers to purchase a home across Canada. As the official data provider, we ranked neighbourhoods and municipalities across Canada using methodology that takes into account the average home prices, price growth over time, and the characteristics and economics of each neighbourhood.
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Using a data-driven approach, we set out to find the most affordable municipalities that offer a great quality of life. However, what our approach does not take into account is the view of the average Canadian. Which cities do Canadians prefer, or which do they think has the best prospects?
To find out, we asked our readers which city they would personally rate as the best place to buy real estate in Canada. In a five-round knockout tournament on our Instagram, cities were pitted against each other for readers to vote on. Let’s take a look at the results!
Move Over Toronto, a New Winner Was Crowned
Toronto has earned the number one spot in the last two polls we have run, but its run has come to an end, with Vancouver Island taking the top spot this time around, beating out Victoria with 55% of the vote. Victoria finished in second place, with Greater Vancouver rounding out the top three.
Vancouver Island's win demonstrates the appeal of the area, as well as the greater affordability on the island. The highest average price is in Parksville-Qualicam, where the average price of a home is $887,907, well below some areas like Mainland Vancouver or Toronto.
Greater Moncton, Sault Ste. Marie and North Bay ranked as the three best places to buy a home in Canada according to our official analysis, but none of them performed particularly well in the reader-driven poll.
Moncton was knocked out in the second round by Victoria. While Moncton may not be the most glamorous place in the country, its growth and value to anyone looking to live outside of a major city has propelled it to the top spot in our ranking for the second year in a row.
Sault Ste. Marie was also knocked out in the second round, suffering defeat at the hands of Chilliwack and District. While it is one of the most affordable places to buy a home in all of Canada, its distance from the major cities in Canada may make it less appealing for those outside of the city.
Greater Vancouver was far and away the highest overachiever in our community poll. Finishing 44th out of 45 cities in the official ranking, it shot up to third in the eyes of our readers. Vancouver’s popularity and city-living appeal more to the average person when considering a place to live, regardless of the high housing prices. Check out the official “Where to Buy Real Estate in Canada 2023” ranking and follow us on Instagram to take part in future community polls.
