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Manitoba Spirited Energy Newsletter

Manitoba's reasonable cost of living and housing really lets you live

Peter Squire, a market analyst and public relations director for the Winnipeg Real Estate Board (WREB) says the average price for a single family home in Manitoba in October, 2006, was $160,000. In Toronto/Mississauga, the Toronto Real Estate Board (TREB) said the average price for a single family home in October was $349,000.

"For individuals who have already built equity in a home, or have paid down their mortgage, they're able to purchase a comparable home in Manitoba at a considerably lower price than what they paid elsewhere, or have the option of moving up to a larger, more luxurious home at a similar price," says Walter Boni, real estate agent and president of the WREB.

Dr. Peter Jones of the Richardson Centre for Functional Foods and Nutraceuticals at the University of Manitoba's SMARTPARK says it costs his family substantially less to live here than what they've been accustomed to elsewhere, "and that has allowed us to take advantage of a number of recreational opportunities that just weren't there before," he says. "My daughter has taken up horseback riding, for example, and my sons are into hockey and diving at Winnipeg's Pan Am Pool."

Affordable housing is not just restricted to the City of Winnipeg says Squire. "The entire capital region, including the interlake area and south toward the US border is similarly priced, he says. Winnipeg's housing market has experienced a boom in recent years, with prices rising steadily. Even so housing costs in Winnipeg are substantially lower than what you'd find in other major Canadian centres, says Squire. "A house here is as good an investment as it is anywhere else," he says. "You just get more for your money."

Average price for a single family home

Manitoba: $160,000
Toronto/Mississauga: $349,000

Sources:
Winnipeg Real Estate Board, October 2006
Toronto Real Estate Board, October 2006

For more information about the housing market in Manitoba, please visit the following websites:

The Winnipeg Real Estate Board — www.wreb.ca
The Manitoba Real Estate Association — www.realestatemanitoba.com

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