The number of people choosing to buy real estate in Toronto is increasing all the time. There are now more people who choose to purchase their home than rent and more than 50,000 new homeowners purchased real estate between the last two city censuses. These numbers represent people switching from a rental property to an owned home and those who have come from places like London Ontario real estate. If you are moving to downtown Toronto from another city or area of the GTA than you are likely curious at home prices will compare. Here is some information on where Toronto sits in terms of the rest of the country.

The average price for buying a home across Canada is currently just over $325,000. The cheapest province to own a home in is New Brunswick with an average price of $155,000 and the most expensive is British Columbia at $490,000. Ontario sits somewhere in the middle of these numbers at $330,000. These numbers reflect home sales over the last month from those buying an Oakville condominium to those who have chosen to live in a cabin in one of the Northern Territories.

While many people might assume that Toronto is the most expensive city in which to buy real estate, as it is the largest urban centre and the home of much of the country's economic headquarters, this is not the case. The average cost for buying a home in Toronto is currently around $410,000. Guelph real estate agents can tell you that numbers in their city are well above this at $635,000 and Victoria's are not far behind at $510,000.

On the other end of the scale, the lowest prices for the country all belong to cities in along the East Coast. Both New Brunswick cities have average prices around $165,000 and PEI sits at $160,000. Next in line are Winnipeg at $206,000 and Regina at just under $215,000. If you're loving for these city centres or smaller towns like real estate in Milton Ontario than you need to be prepared to pay as much as double for a comparable property in the Toronto area.

Real estate in larger cities throughout the rest of Ontario and Alberta are the closest in price to that in Toronto. Those coming from Calgary will only be paying around $30,000 more for a home in Ontario's capital. Homes throughout the GTA either come with smaller price tags or more space than you will find with a home in downtown Toronto. The best deals go to those who are willing to commute and decide on homes like the power of sale properties in Mississauga. If you're living in the heart of the city than you are certain paying for location over space. But many people find this to be a small price to pay to be at the centre of Canada's largest city.