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One of the major attraction of moving to Canada for most people has been the cost of housing when compared to their current locations. This main attraction has continued to fade as time goes by because the power of the Canadian dollar, has resulted to a lesser purchasing power for new arrivals compared to what they had in the previous years. The pricing of houses has continued to increase while in most countries the prices has either fallen or reduced significantly.
The prices are much higher in vancouver& area mls listings especially in Canada’s main cities and major provinces like BC compared to surrounding towns and the rural areas. The most expensive houses in Canada are found on the West Coast i.e. BC and Vancouver, where the mildest weather in the country is found. The remoteness from the major markets and severe weather has always resulted to a much lower house prices. In regions like Manitoba and Prince Edward, the property prices are way low. In the year 2007, the housing prices in Alberta rose above the house prices in Toronto. In the same time the house prices in Calgary also rose above the house prices.
Want to make homes affordable in BC Canada? Build more density! By building more density in BC and also all the major towns in Canada, the resulting house prices will decline. The greater the density of development in BC is, will ensure that the number of houses available are more than enough, in turn affecting the market prices. In addition by increasing the housing density, the land in these are will be utilized effectively hence more sustainable house designs and more construction solutions.
In the year 2011 and 2012 house prices in BC and throughout Canada were modest especially due to the newer and stricter mortgage rules that were introduced. By the Year, 2013 and 2014 the prices had sky rocketed. The only way left to control the housing prices is by building more density and ensuring that there are more affordable homes, than what is, currently the case.