Advertisement
Canada markets open in 3 hours 57 minutes
  • S&P/TSX

    21,837.18
    -12.02 (-0.06%)
     
  • S&P 500

    5,149.42
    +32.33 (+0.63%)
     
  • DOW

    38,790.43
    +75.63 (+0.20%)
     
  • CAD/USD

    0.7365
    -0.0024 (-0.32%)
     
  • CRUDE OIL

    82.48
    -0.24 (-0.29%)
     
  • Bitcoin CAD

    86,345.84
    -6,111.27 (-6.61%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • GOLD FUTURES

    2,155.70
    -8.60 (-0.40%)
     
  • RUSSELL 2000

    2,024.74
    -14.58 (-0.72%)
     
  • 10-Yr Bond

    4.3400
    0.0000 (0.00%)
     
  • NASDAQ futures

    18,212.75
    -18.75 (-0.10%)
     
  • VOLATILITY

    14.51
    +0.18 (+1.26%)
     
  • FTSE

    7,714.45
    -8.10 (-0.10%)
     
  • NIKKEI 225

    40,003.60
    +263.20 (+0.66%)
     
  • CAD/EUR

    0.6788
    -0.0004 (-0.06%)
     

What a $1 million home looks like in Canada this week - May 17 edition

If you thought that home prices were bad enough on their own, just wait until you hear how much more you’re paying in regulatory fees.

New research from C.D. Howe found that on average, Canadians who bought in the hottest real estate markets paid an average of $229,000 extra between 2007 and 2016 because of regulations. Zoning regulations and development charges are leading to increased housing costs. Builders are forced to pay these costs, and the costs then get passed on to the buyers.

It partially explains why the million-dollar homes we see today seem to range so much in price, depending on where they are. This week, we look at homes in Toronto, Ont., Victoria, B.C. and Saint John, N.B., and the differences are quite dramatic.

Which would you choose?

All listings courtesy Zoocasa.

Download the Yahoo Finance app, available for Apple and Android.