With the dwindling of land available for construction of detached and semi-detached single-family homes, Canadians are accepting the need for vertical living and high-density communities. Even naysayers are contemplating life in a “box.”
The reality is – as Canada’s most recent census numbers indicates – condo living is here to stay.
The 2016 census revealed that 13.3% of all Canadian households (approximately 1.9 million households) live in condominiums – an increase of 1.2 percentage points over the previous census conducted in 2011.
Of course, that differs across the country and from urban areas to suburbs and rural locations. In Vancouver, for example, some 30% of the population call a condo home. In Toronto, that number sits at 20.9%. But in both Halifax and Moncton, the number of condo dwellers drops to below 5%.
Notes a recent CBC article published after census results were released: “In other cities, meanwhile, condos barely rate as a living option. In Greater Sudbury, Ont., Saint John and St. John’s … less than one out of every 20 people live in a condo.”
The numbers, of course, correlate to population: Both Vancouver and Toronto boast larger populations, and wildly different real estate markets, than their smaller counterparts. The census reported that, by homeowner estimates, the cost of an average home in Vancouver totalled $1,005,920 compared to $734,924 in Toronto. And across Canada, the average value of a home was $443,058, up from $345,182 in 2011. And, interestingly, two-thirds of households owned their condos, while renters accounted for the remainder. Perhaps something to watch for in future?