A summation of these factors points to the low demand for houses in the province compared with other areas with similar population densities. But how long can this go on? There has been a surge in housing demand in recent months, leading to increased average housing prices in Quebec. For example, a record 31, residential sales were completed in Quebec in the first quarter of Over the years, Quebec houses have continued to trail other provinces and the national average in prices, which may continue for a long time judging by historical data.
Otters are incredibly cute animals, known for their charming traits like holding hands with each other to keep from drifting away. There are a number of different species of otters around the world, Canada has a reputation as a cold country. And for good reason!
A large portion of the country has year-round snow and ice, making it inhabitable for most people. But, Canada is also a large country Skip to content Houses have always been expensive in most areas such as Toronto and Vancouver, and the prices have continued to rise— by Lower Population Growth Quebec is one of the most welcoming provinces for immigrants in Canada as it admits as many as 50, people yearly. Environmental Conditions Quebec is notable for its harsh winters of cold temperatures and storms at times.
In large part, Montreal's funhouse-mirror rental market comes down to two familiar factors: supply and demand. As anyone who has visited the city can attest, it's full of three-storey walk-ups festooned with spiral staircases. The numbers bear this out. The greater Montreal area boasts about , rental apartments, compared with just , in the Vancouver area, which has about half Montreal's population.
That glut of supply can be traced back to the city's 19th-century roots. When Montreal was being built up, decades before most of Canada's urban areas, apartments were the standard housing unit of city life. Through the s, even Montreal's upper class rented apartments on the city's Golden Mile. By the time homeownership had gained currency in postwar North America, renting had taken hold in Montreal.
Choko dismisses the concept of a "culture of renting" — "Some moralist writers say that Quebeckers like to drink and enjoy the good life, while Anglos are more Protestant and take care of the money," he says — but whether thanks to culture or mere circumstance, Montrealers have been likelier to rent than other Canadians for more than a century.
Sheer volume alone does not account for the Montreal discount. The old age and small size of the city's apartment stock contributes to the city's affordability, too, says Francis Cortellino, principal market analyst for the Canada Mortgage and Housing Corp. Because they do not come with expenses such as elevators and swimming pools, smaller buildings are often cheaper to maintain that high-rises, Mr.
Cortellino says. In Montreal, 33 per cent of rental apartments are in buildings with three to five units. In Toronto and Vancouver, the figure is between 1 and 3 per cent.
Rent is also generally cheaper in older buildings, because they tend to be in relatively worse physical shape. That helps Montreal renters save pennies. Half of the city's rental buildings were erected before , compared with 24 per cent and 17 per cent for Toronto and Vancouver respectively. As Mr. Cortellino puts it: "In Montreal, you've got a lot of small buildings, and a lot of old buildings. So think lower income people blue collar workers limited by unions or certain regional certifications and of course students.
These are the people IMO who are the majority of the renting "demand" and usually their position has little to do with how much they like or dislike winter or higher income taxes. French language and overall hostility towards English speakers, even at the government level Lower salaries Higher crime Different legal system for no reason Stupid laws for things like leases and such Crumbling infrastructure, to the point where a woman can get crushed to death by it while eating on a patio.
Montreal's housing stock consists largely of high density row houses, condos, and apartments. You hardly see any single detached homes unless you drive 30 minutes away from the city center. If you look at Vancouver, there are single detached homes just across the street from City Hall. Rental culture is probably more widely accepted in Montreal. Beautiful place. Just 2 hours northeast of Quebec City. On our last trip, we had to ask the main park reception about the shuttle times.
Pretty common question, as you can't really take your car too far inside the park. The young girl at the counter couldn't speak English. At all. She had to ask someone else to come out - and even that person had trouble giving me directions to wait across the street for 5 minutes for the next shuttle. I eventually signalled them to just hand me a printed schedule in English. Thank you for your comment. I think you are partly right.
Surely, if Toronto planners decided to cap building height and build low-rises only where they now allow high-rises, it would be a disaster and housing would be even more expensive, because they cannot build in those few areas enough units in low-rise buildings to satisfy demand.
But land prices are affected by regulations. In other words, if in one stroke of a pen they allowed the replacement of single-family homes by low-rise or mid-rise buildings across most of Toronto, it would create a glut of land where development and increased density is allowed.
This would significantly reduce the value of land in Toronto, at least the land for these purposes. They could still also allow it in suburbs, where land is much cheaper.
It wouldn't be great, but it would offer affordable housing options. Of course, you can point out the unlikelihood of such reform passing, but I'm not making a political case here, I'm saying what Toronto and Vancouver, IF they really cared about affordability, could do to restore it.
It would be interesting to collect data on how much of an effect zoning has. And this is for the central North York area, which is relatively desirable but far from the most desirable part of the city.
For the midtown and downtown neighbourhoods the difference is probably even bigger. I would say that lower density homes relative to the neighbourhood - i. Nice Post Visit Me Maintenance free aluminum railings installation. So, many people have heard about the million-dollar homes in Vancouver and Toronto. Many economists are talking of an housing bubble in Canada, and that it should pop anytime soon.
However, the situations of Vancouver and Toronto are quite exceptional. The website Numbeo which allows to compare cost of living between world cities largely concurs:.
I have my own idea on this. That is not all that correct. It is also the fact that Europe is stagnant while Asia is growing, so the West Coast of North America, which deals directly with Asia, performs better economically than the East Coast. However, this impact shouldn't be overstated. However, it is important to note that neither Toronto nor Vancouver are the fastest growing big cities in Canada, both Calgary and Edmonton have grown faster in recent years.
Furthermore, these cities are also much richer, being submerged by oil money. Nevertheless, neither is anywhere near as expensive as Vancouver in terms of housing costs. If housing demand and wealth were the dominant factors, then they would have much more expensive housing, that is clearly not the case. The cost of land is crucial in determining the cost of housing.
All types of housing "consume" land, and the price of the land will be part of the price of the housing. The value of land is also the result of supply and demand, if there is a shortage of land, then land prices will increase, pulling up the value of housing, especially land-intensive low-density housing. In a metropolitan area, in general, land nearest to downtown is more expensive, because it is more desirable.
People who live in a metropolitan area want to access the services and opportunities it offers, and for that, they have to live at a reasonable distance from concentrations of such, and the biggest concentration is downtown. As a result, it is able to "sprawl" in every direction, and once passed the river, we are in flatlands, perfect for development. Let's use an arbitrary number and talk of a km radius around downtown for the most desirable land.
Most of the area in close proximity to the downtown area is thus liable to be developed. Toronto's downtown is located right next to Lake Ontario. As a result, it cannot grow to the southeast, depriving it of nearly half the area within 20 km of downtown.
Vancouver is even worse off. The downtown area is located on a small peninsula. Vancouver residents are proud of the sights they have, of being a "sea to sky" city, but in terms of urban development economics, it's absolutely terrible.
So as lands in proximity to downtown are rarer in both Toronto and Vancouver, it should be expected that land prices would be much higher as supply is constrained, especially as populations grow. Now, you can compensate by using higher density, less land-intensive housing, but here, we come to the next point First of all, in terms of housing supply, all metro areas manage to build enough housing for the growth in population Anyway, the census provides both the number of private dwelling units and the number of dwelling units presently occupied by permanent residents.
This isn't perfect evidence, but it can provide a hint of the vacancy rate of housing. As to comparing population and housing growth between the and censuses, here is the data, first for each city, then for the entire metro areas:.
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