England and Canada: comparing property prices
I am a Realtor, and so this post is about Realtor-type stuff. I have represented many buyers and sellers in my ten years of being in real estate, and I have watched the markets change in both countries in that time.
We all know that real estate is about location, so it’s not easy to compare property in England and Canada, you know, seeing as they are 5000 miles apart, but I happen to come from one of the most desirable cities in the UK (Brighton), and in Canada, I happen to live close to one of the most desirable cities in Canada (Vancouver). What this means is these are two of the most expensive places to buy a home – anywhere. Brighton is third in the UK only to London and Cambridge in terms of price. As for Vancouver – well it regularly comes out as one of the most expensive places in the world to buy property.
Let’s take a look at what your cash (or your mortgage company) can buy you.
The high end country residence
Situated in the countryside of Sussex, just outside Brighton in a pretty village called Ditchling, this 5 bedroom, 5 reception room country house will set you back £2,250,000 (around CAD$3,850,000). It has 5600 square feet of living space and sits on just under 1 acre. More details here: https://www.rightmove.co.uk/property-for-sale/property-75896540.html
It is hard to find an area comparable with Ditchling, but the closest I can think of is Fort Langley, a lovely little town that is as close to a village as you can get in Canada. It’s around around an hour outside of Vancouver. This 44-year-old, 4 bedroomed, 7 bathroom home is 7200 square feet and sits on on 7.5 acres. It is priced at $3,495,000 (around £2,040,000).
The city apartment
As Vancouver and Brighton are both top-priced markets, and both are desirable, vibrant, thriving cities, I have decided to compare prices of these two places. The most expensive flat in Brighton currently on the market is a stunning 4 bedroom maisonette overlooking the sea and is priced at £1,500,000 (around $ 2,570,000): https://www.rightmove.co.uk/property-for-sale/property-67624018.html
In Vancouver, those dollars would buy you something like this – a 3 bedroom, 2.5 bathroom, 2600 square foot condo occupying the entire top floor of the building: https://www.realtor.ca/real-estate/20111626/3-bedroom-condo-4-1350-w-14th-avenue-vancouver
By the way, the most expensive apartment currently on the market in Vancouver also overlooks the sea. It has 4 bedrooms and 5 bathrooms and is, of course, spectacular. It is just shy of $30,000,000 (£17,500,000). https://www.realtor.ca/real-estate/20176126/4-bedroom-condo-1011-w-cordova-street-vancouver
The suburban family home
The criteria for this search is: safe, family-orientated neighbourhood; close to schools, parks and shops; within commuter distance of a big city (in the case of Canada, Vancouver, and in the case of England, London); a reasonably size detached home with a garden and a few bedrooms.
This brand new 5 bedroomed home is in Haywards Heath, around 30 minutes drive from Brighton, and around an hour from London. It is on the market for £1,100,000 (around $1,900,000): https://www.rightmove.co.uk/property-for-sale/property-79043735.html
For around the same price, in Canada you can get something quite similar; this 4 bedroom, 4 bathroom home is in Langley (just over an hour’s drive from Vancouver) and is on the market for $1,900,000 (£1,100,000): https://www.realtor.ca/real-estate/20293905/4-bedroom-condo-6-24455-61-avenue-langley
In comparing the Vancouver area with the south of England, it used to be that property in Canada was significantly cheaper than in the UK. Nowadays, it would seem that the gap has closed significantly, and in some markets (I am thinking high-end Vancouver), Canada has surpassed the UK.