Regina's affordable housing market is piquing the interests of buyers from across Canada
With a minimum down payment and closing costs of $17,850, Regina is on top in terms of affordable cities in Canada to purchase a single family home.
Although the Queen City has been crowned Canada’s most affordable city, it can make the market even more competitive. Moon Green is currently in the market alongside her husband, for a family home.
“It’s been war out there. Because the market is so competitive out there, people are buying stuff that aren’t even in like the best condition. So you’re just kind of getting the leftovers,” Green said.
While Regina came out on top, an expert in the housing market explained that Saskatchewan as a whole is recognized for its affordability.
“If you have an adventurous spirit, if you are looking to uproot and look elsewhere, especially in areas that are very welcoming, communities that are very attractive because of their low cost of living, Saskatchewan is really that place,” Chris Guérette, the CEO of Saskatchewan Realtor’s Association, said.
Apparently, homeowners are noticing this trend as Saskatchewan reported 776 sales in January. That puts the numbers 24 per cent higher than this time last year.
With many taking notice of this desirable market, it doesn’t necessarily come as a surprise to Guérette, who explains that this competition may become a trend.
“We do know that we are an attractive place, we do know that immigration will continue to increase, and so we’ll have to make sure that our supply can keep up with that demand because when it can’t is when you’ll start to see those slips in houses,”Guérette explained.
As Green and her husband continue to look for a home, she explains that the process can be disheartening at times.
“It sounds like it’s an affordable market and everything but you have to, you know, overbid $20,000, $30,000 over asking price just to get into it
We love Regina because we have all of our friends here and everyone is great but it just seems impossible to get into the market,” Green said.
If you were wondering who takes the cake in terms of the most expensive city, that title goes to Vancouver with minimum down payment and closing costs being $255,647.
CTVNews.ca Top Stories
![](https://www.ctvnews.ca/polopoly_fs/1.6945600.1719608806!/httpImage/image.jpg_gen/derivatives/landscape_800/image.jpg)
'We need new leadership': Liberal MP writes to caucus, says Justin Trudeau should resign
A sitting Liberal MP has written to the federal caucus to say he thinks Prime Minister Justin Trudeau should resign. 'For the future of our party and for the good of our country we need new leadership and a new direction,' said New Brunswick MP Wayne Long in the brief note.
WestJet warns of travel disruption as mechanics union opts to 'continue with strike action'
WestJet says it is 'outraged' after its airline maintenance engineers went ahead with their previously threatened strike on Friday evening.
Minivan slams into a Long Island nail salon, killing 4 and injuring 9, fire official says
A minivan slammed into a Long Island nail salon Friday, killing four people and injuring 9, a Suffolk County fire official said.
Ontario MPP removed from PC caucus over 'serious lapses in judgment'
Premier Doug Ford has removed a member of his caucus due to what he’s describing as 'serious lapses in judgment.' In a statement released Friday morning, the premier’s office said MPP Goldie Ghamari had been removed from the Progressive Conservative caucus 'effective immediately.'
Martin Mull, hip comic and actor from 'Fernwood Tonight' and 'Roseanne,' dies at 80
Martin Mull, whose droll, esoteric comedy and acting made him a hip sensation in the 1970s and later a beloved guest star on sitcoms including 'Roseanne' and 'Arrested Development,' has died, his daughter said Friday.
Lt.-Gen. Jennie Carignan to become first woman to lead Canadian Armed Forces
Lt.-Gen. Jennie Carignan will be named Canada's new Chief of the Defence Staff, CTV News has learned, making her the first woman to lead the Canadian Armed Forces.
Multivitamins don't help you live longer, study suggests
Millions of people who take multivitamins everyday may not be reaping the perceived health benefits, according to new research published in the Journal of the American Medical Association.
Is marriage harder than it was 10 years ago? Why one psychologist thinks so
Marriage might be the oldest institution in the world, but it's struggling to adapt to the pressures of modern life. Registered psychologist Adisa Azubuike explains why it's more difficult today.
Five survivors from Sudbury, Ont., rescued in human trafficking investigation
Six people have been charged in a provincial human trafficking investigation that identified five survivors from Greater Sudbury.