Posted by Victoria in Canada, Canada,Canada on September 06, 2018 02:59:38The rental market is the most expensive in Canada with the average price of a home in Vancouver, which has the highest median rent, at $1,700 a month.
The median rent for a detached house in Toronto, with the lowest median rent in the country, is $1:25,700.
Rent in Vancouver’s downtown core is also the highest, at just over $2,000 a month, followed by the Downtown Eastside, which is at $2:15,000.
But in the city’s suburbs, rent is the cheapest, at about $700 a week, according to data compiled by real estate firm Compass Real Estate.
The average cost of a detached home in downtown Toronto is $2.2 million.
The data also showed that people in Toronto are spending more time in their cars than in their homes.
According to the research, people spend almost three hours a day in their car, compared to about four hours a week in their own homes.
The average time spent in their vehicle is just over 10 minutes.
It’s worth noting that people are also spending more money than ever before on cars in Canada.
According the census data, Canadians spent $4.3 billion on new vehicles in 2018, a 14.5 per cent increase from 2015.
However, a lot of that increase is in the form of higher fuel prices and a slowdown in sales.
A new report released this week by the Centre for Policy Alternatives shows that people living in the capital spent the most money in the GTA last year on their vehicles.
In a statement, Compass said:”As the affordability of housing continues to be a concern, the fact that we are seeing a shift away from the rental market shows that Canadians have come to realise that it is time to re-evaluate their priorities and priorities of how we spend our time.”
Read more about housing, real estate and jobs in The Canadian Press article