{"id":302459,"date":"2024-07-08T22:10:45","date_gmt":"2024-07-08T22:10:45","guid":{"rendered":"https:\/\/wahi.com\/ca\/en\/?p=302459"},"modified":"2025-12-15T11:23:44","modified_gmt":"2025-12-15T16:23:44","slug":"why-is-canadian-housing-so-expensive","status":"publish","type":"post","link":"https:\/\/wahi.com\/ca\/en\/learning-centre\/real-estate-101\/buy\/why-is-canadian-housing-so-expensive\/","title":{"rendered":"Why Is Canadian Housing So Expensive?"},"content":{"rendered":"

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Housing costs in Canada are some of the highest in the world, and a lethal mix of several supply- and demand-side factors are to blame.
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By Josh Sherman<\/a>\u00a0<\/span>| 7 minute read<\/p>\n

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Canada’s high cost of housing is becoming part of the country’s national identity for better or for worse.<\/p>\n

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Canada is known on the international stage for the politeness of its population, popular cultural exports such as poutine and hockey, and it was even recently ranked one of the happiest nations in the world<\/a>.<\/span><\/p>\n

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Unfortunately, the Great White North has also earned a less-savoury reputation: it\u2019s become infamous for having some of the most expensive housing in the world, placing high in ranking<\/a> after international ranking<\/a> of the priciest property markets.<\/p>\n

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So why is Canadian housing so expensive? Fundamentally, experts suggest, it boils down to an imbalance between supply and demand. Challenges on both the demand and supply sides are contributing to what many say has reached crisis levels, and may also be the single-largest threat<\/a> to the future health of the country\u2019s economy.<\/p>\n

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Wahi spoke to housing experts to break down what\u2019s fueling demand, what\u2019s limiting supply, and how the interplay between the two has made Canadian housing so expensive when compared to many other countries.<\/p>\n

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The Demand-Side Factors Making Canadian Housing So Expensive<\/b><\/h2>\n

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Strong demand has helped push the cost of Canadian housing higher in recent decades. Between January 2014 and January 2024 the benchmark price of a home in Canada increased from $381,600 to $708,700, according to the Canadian Real Estate Association<\/a>. That\u2019s a jaw-dropping increase of 85.7% in a decade.<\/span><\/p>\n

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On the demand side, several key factors are juicing the Canadian housing market:<\/p>\n

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