Regina ranked as most affordable city in Canada to purchase a single-family home
Regina has been ranked the most affordable city across Canada to purchase a single family home, according to a recent report.
Zoocasa, a Toronto-based real estate brokerage firm, outlined in its Feb. 28 report that buying a single family domicile in the Queen City will cost buyers $17,850.
The price includes the minimum down payment and closing costs.
In its report, Zoocasa identified the lack of land transfer tax in both Alberta and Saskatchewan as a contributing factor to housing affordability found in both provinces.
“Meanwhile, in New Brunswick, the land transfer tax constitutes a flat one per cent tax on the assessed property price or its purchase price, whichever is greater,” the report read.
Saint John, N.B. and Edmonton, Alta. ranked as second and third respectively. Canada’s oldest incorporated city recorded down payments and closing costs averaging $18,037 while the same charges averaged $19,875 in Alberta’s capital.
The Greater Vancouver area was labelled Canada’s most expensive housing market with average down payments and closing costs totalling $255,647.
A separate report, also based off statistics from the Canadian Real Estate Association (CERA), shows a limited rise in the price of single-family domiciles in Regina compared to other centres across the country.
From 2013 to 2023, the benchmark price in Regina rose a mere $18,800, from $298,000 to 316,800 – while many other centres saw their benchmark prices more than double.
According to the Saskatchewan Realtors Association (SRA), January saw 179 home sales in Regina – marking a year-over-year gain of 35 per cent.
The association noted new listings were not numerous enough to offset strong monthly sales.
As a result, housing inventory dropped to nearly 19 per cent year-over-year and remain over 33 per cent below the 10 year average.
CTVNews.ca Top Stories
![](https://www.ctvnews.ca/polopoly_fs/1.6940852.1719359435!/httpImage/image.jpg_gen/derivatives/landscape_800/image.jpg)
BREAKING WikiLeaks' Assange pleads guilty in deal with U.S. that secures his freedom, ends legal fight
WikiLeaks founder Julian Assange has pleaded guilty to a single felony charge for publishing U.S. military secrets in a deal with Justice Department prosecutors that secures his freedom and concludes a drawn-out legal saga that raised divisive questions about press freedom and national security.
One of Canada's most popular vehicles recalled over transmission issue; 95,000 impacted
One of the country's most popular vehicles is being recalled in Canada due to a transmission issue that may impact tens of thousands of drivers.
'We need to regroup,' says Liberal minister and Ontario campaign co-chair in light of byelection loss
A member of Prime Minister Justin Trudeau's cabinet and the party's Ontario co-chair for the next campaign says the Liberals 'need to regroup' after a shocking overnight byelection loss to Pierre Poilievre's Conservatives.
'Truly a great British Columbian': Former B.C. premier John Horgan has cancer again
Former B.C. premier and current Canadian ambassador to Germany John Horgan has been diagnosed with cancer for a third time.
Pre-med students can't take MCAT in Quebec because of Bill 96
Areeba Ahmed says she's always dreamed of becoming a surgeon but her road to the operating room has become a complicated one ever since Quebec's French language law came into effect.
Cup Noodles serves up notoriously poisonous pufferfish
Pufferfish is regarded as a luxury in Japan and a meal featuring the potentially poisonous delicacy can easily cost up to 20,000 yen (US$125) at high-end restaurants.
Workers rescued after swing stage ropes break outside 56th floor of downtown Toronto hotel
Two workers have been rescued after some of the ropes holding up a swing stage atop a soaring downtown Toronto hotel broke.
'Not the result we wanted': Trudeau responds after surprise Conservative byelection win in Liberal stronghold
Conservative candidate Don Stewart winning the closely-watched Toronto-St. Paul's federal byelection, and delivering a stunning upset to Justin Trudeau's candidate Leslie Church in the long-time Liberal riding, has sent political shockwaves through both parties.
Former Ottawa deputy police chief charged with sexual assault
Former Ottawa police deputy chief Uday Jaswal has been charged with sexual assault in connection with an incident involving a female police officer under his supervision at the time. The assault allegedly took place in the workplace.