This is where you'll find the best value for a home in Ontario
A new report has revealed the best place in Ontario to buy a house.
According to a report released this week from Zoocasa, a real estate agency that offers market analysis, Bancroft currently offers the best value, location and potential for appreciation over time.
Bancroft is located about 250 kilometres north-east of Toronto.
Why did Bancroft top the list?
According to Zoocasa, the average selling price across all residential property types in 2020 was $292,733, which is 47 per cent below the national average.
Bancroft has long been known for being in prime Ontario cottage country and in close proximity to Algonquin Provincial Park.
Zoocasa says with the major shift to remote work, the town offers even more incentives for those looking to make the switch to a more relaxed lifestyle.
The three-year growth percentage on residential property is 78 per cent, meaning the average person in Bancroft has seen the value of their home jump on average by $128,533.
The next area on Zoocasa's list is Woodstock and Ingersoll.
According to Zoocasa, the average price for a residential property in 2020 was $433,383, which is 22 per cent below the national average.
The three-year growth percentage in this region is 67 per cent, meaning the average appreciation is $173,383.
Coming in third place, is London and St. Thomas.
The average selling price of a home in this area is $436,433 and the three-year appreciation 77 per cent, Zoocasa says.
Toronto, unsurprisingly, ranks much lower on the list.
According to Zoocasa, the average selling price of a Toronto home in 2020 was $915,001. The three-year appreciation value is 14 per cent.
Zoocasa analyzed dozens of Canadian cities to determine which ones they believed offered the best value.
If you're thinking of a move out of province, other Canadian cities that topped Zoocasa's list include Greater Moncton, Montreal, and Winnipeg.
To view the full list, click here.
CTVNews.ca Top Stories
How quietly promised law changes in the 2024 federal budget could impact your day-to-day life
The 2024 federal budget released last week includes numerous big spending promises that have garnered headlines. But, tucked into the 416-page document are also series of smaller items, such as promising to amend the law regarding infant formula and to force banks to label government rebates, that you may have missed.
Which foods have the most plastics? You may be surprised
'How much plastic will you have for dinner, sir? And you, ma'am?' While that may seem like a line from a satirical skit on Saturday Night Live, research is showing it's much too close to reality.
opinion I've been a criminal attorney for decades. Here's what I think about the case against Trump
Joey Jackson, a criminal defence attorney and a legal analyst for CNN, outlines what he thinks about the criminal case against Donald Trump in the 'hush money trial.'
$3.8M home in B.C.'s Okanagan has steel shell for extra wildfire protection
A home in B.C.'s Okanagan that features a weathering steel shell designed to provide some protection against wildfires has been listed for sale at $3.8 million.
Diver pinned under water by an alligator figured he had choice. Lose his arm or lose his life
An alligator attacked a diver on April 15 as he surfaced from his dive, nearly out of air. His tank emptied with the gator's jaws crushing the arm he put up in defence.
Psychologist becomes first person in Peru to die by euthanasia after fighting in court for years
A Peruvian psychologist who suffered from an incurable disease that weakened her muscles and had her confined to her bed for several years, died by euthanasia, her lawyer said Monday, becoming the first person in the country to obtain the right to die with medical assistance.
Mystery surrounds giant custom Canucks jerseys worn by Lions Gate Bridge statues
The giant stone statues guarding the Lions Gate Bridge have been dressed in custom Vancouver Canucks jerseys as the NHL playoffs get underway.
Celebrity designer sentenced to 18 months in prison for smuggling crocodile handbags
A leading fashion designer whose accessories were used by celebrities from Britney Spears to the cast of the 'Sex and the City' TV series was sentenced Monday to 18 months in prison after pleading guilty in Miami federal court on charges of smuggling crocodile handbags from her native Colombia.
Wildfire leads to evacuation order issued for northeast Alberta community
An evacuation order was issued on Monday afternoon for homes in the area of Cold Lake First Nation.