Estimated reading time: 6 minutes
Table of contents
- Summary
- Simple Moves & Storage Predictions
- A 5-Year Canadian Average House Price Forecast
- 5-Year Greater Vancouver Housing Price Prediction
- 5-Year Canadian Housing Price Prediction for the Greater Toronto Area
- 5-Year Canadian Housing Price Prediction for Victoria
- 5-Year Canadian Housing Price Prediction for Calgary
- 5-Year Montreal Housing Price Prediction
- 5 Year Edmonton Housing Price Prediction
- FAQ
Summary
Canadian house prices are expected to grow, fueled by urban expansion, strong economies, and stable supply-demand fundamentals across major cities.
Simple Moves & Storage Predictions
| 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | |
| Canada Average | $676k | $696k | $717k | $739k | $761k | 784k |
| Greater Vancouver | $1,172k | $1,207k | $1,243k | $1,281k | $1,319k | $1,359k |
| Greater Toronto | $1,062k | $1,094k | $1,127k | $1,160k | $1,195k | $1,231k |
| Victoria | $869k | $895k | $922k | $950k | $978k | $1,007k |
| Calgary | $572k | $589k | $607k | $625k | $644k | $663k |
| Montreal | $543k | $559k | $576k | $593k | $611k | $629k |
| Edmonton | $397k | $409k | $421k | $434k | $447k | $460k |
A 5-Year Canadian Average House Price Forecast
The Canadian real estate market has demonstrated remarkable resilience amid global economic shifts, rising interest rates, and ongoing immigration-driven demand in recent years. While the historic surge in housing prices from 2020 through 2022 began to stabilize in 2023 and 2024, industry forecasts suggest that values will continue on a moderate upward trajectory over the next five years and into 2029. Urbanization trends and limited land supply are expected to sustain pressure on property values in major cities. However, price growth will likely be more measured than the double-digit increases of the past decade. Despite tightened mortgage regulations and the resulting affordability challenges for first-time buyers, interest rates remain comparably low relative to the highs of previous decades, maintaining a favourable environment for both investors and homebuyers. These policy adjustments to ensure market stability and sustainability have helped create a balanced dynamic between supply and demand. As a leading Canadian Real Estate and Home Services Company, we advise that buyers, sellers, and investors take a cautious yet strategic approach—staying informed about local market conditions and regulatory developments to optimize their decisions. Overall, the Canadian housing landscape holds promise for steady growth, underscoring the importance of carefully researched strategies for maximizing opportunity and minimizing risk in today’s evolving market.
5-Year Greater Vancouver Housing Price Prediction
The Greater Vancouver housing market is projected to continue its upward growth trend over the next five years, although at a more moderate pace than previous decades. Key factors driving this projection include the limited land availability, constant demand for urban living, and the region’s inherent attractiveness, characterized by a desirable lifestyle and substantial economic opportunities. The forecasted figures show a gradual increase from $1,172k in 2024 to $1,359k in 2029, reflecting a stable, albeit slower, growth trajectory. This steadier pace of price appreciation signals a shift towards a more balanced market environment, benefiting from regulatory measures designed to maintain stability without discouraging investment interest.
5-Year Canadian Housing Price Prediction for the Greater Toronto Area
The Greater Toronto Area (GTA) housing market is expected to experience a steady upward trajectory in prices over the next five years. Based on current forecasts, housing prices in the GTA are projected to increase from $1,062k in 2024 to $1,231k by 2029. This sustained growth can be attributed to the region’s continued status as a significant hub for economic activity, employment opportunities, and cultural diversity, collectively driving a persistent demand for housing. Despite ongoing challenges such as tighter mortgage regulations and fluctuations in interest rates, the GTA remains a highly desirable place to live. As the market becomes more balanced between supply and demand, potential buyers and investors should anticipate a gradual yet stable increase in property values, aligning with the overall trend in the broader Canadian real estate market.
5-Year Canadian Housing Price Prediction for Victoria
The Victoria housing market is projected to follow a steady upward trend over the next five years, with prices increasing from $869,000 in 2024 to $1,010,000 by 2029. This gradual rise reflects a more balanced approach to market growth, contrasting with the rapid increases seen in previous years. Factors contributing to this trend include ongoing urbanization, the city’s appealing coastal lifestyle, and a strong local economy. Despite regulatory measures to stabilize the market and moderate price inflation, Victoria remains a desirable destination for prospective buyers and investors. The market’s resilience, combined with the sustained demand for housing, suggests a positive outlook for price appreciation in the coming years.
5-Year Canadian Housing Price Prediction for Calgary
The Calgary housing market is projected to follow a steady and upward trajectory over the next five years, with housing prices expected to increase from $572,000 in 2024 to $666,000 in 2029. This positive growth is supported by factors such as urban expansion, a robust local economy, and relatively low mortgage rates compared to historical standards. Calgary’s balanced blend of urban amenities and natural landscapes continues to attract a growing population, further sustaining the region’s housing demand. While the pace of price appreciation is more controlled than previous surges, the market’s resilience suggests a stable environment for buyers and investors. As such, Calgary remains an attractive destination for real estate investment, with its housing market showing promising signs for continued growth while maintaining stability.
5-Year Montreal Housing Price Prediction
The Montreal housing market is projected to steadily increase prices over the next five years, with values rising from $543,000 in 2024 to $632,000 by 2029. This consistent growth pattern aligns with broader national trends of moderate price appreciation, fueled by ongoing urbanization, a robust economy, and Montreal’s diverse cultural appeal. The city’s relatively affordable cost of living compared to other major Canadian cities continues to draw new residents, sustaining demand for housing. As the market moves towards a more balanced state, potential buyers and investors can expect a favourable environment that promotes stability and gradual property value appreciation.
5 Year Edmonton Housing Price Prediction
The Edmonton housing market is projected to experience steady price growth over the next five years, increasing from $397,000 in 2024 to $463,000 by 2029. This anticipated rise reflects a consistent and controlled growth pattern in line with broader Canadian trends. Factors contributing to this increase include ongoing urban development, a stable economic environment, and the city’s appealing lifestyle offerings. Edmonton’s relatively moderate cost of living compared to other major cities also continues to attract new residents, fostering sustained demand for housing. As the market evolves, this steady growth trajectory suggests a balanced real estate environment that is poised for gradual appreciation, offering a positive outlook for both buyers and investors.
FAQ
- What is the main driver of Canadian house price growth?
Ongoing urbanization, economic robustness, and controlled supply-demand dynamics primarily fuel rising prices. - How do interest rates affect the market?
Fluctuations can slow or accelerate price growth, but rates remain low historically. - Will first-time buyers face affordability challenges?
Mortgage regulations and rising prices can impact affordability, but balanced market conditions reduce excessive pressure. - What is the outlook for major cities?
Each market sees stable growth, buoyed by local economies, population influx, and lifestyle appeal. - Is this growth sustainable?
While more moderate than past surges, projections suggest resilience and upward price momentum.
