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Housing market: Isle of Scotland cheaper than most homes in Canada

An entire island in Scotland, with a six-bedroom house, a helipad and a lighthouse, has been listed for sale for significantly less than the median asking price in major cities. of Canada.

The 27-acre property, listed by UK estate agency Knight Frank, features 1,600 meters of rocky shoreline, a stone jetty with an open houseboat and stunning views of Arran Island, Ailsa Craig and Northern Ireland.

Its asking price is £350,000, or C$546,451.50. In many major Canadian cities, that amount of money won’t help you much.

According to property listing website Zolo Toronto Real Estate Trend, the median price for a five-bedroom Toronto home in August was $2.6 million – about five times the asking price of the Scottish island .

The median home price in other major Canadian cities is also higher than the asking price of remote real estate.

Vancouver has a median benchmark price of $2,000,600 for a multi-bedroom detached home, and Calgary’s median sale price for a single detached home is around $596,000.

The home in Scotland, which includes six bedrooms, one bathroom and two living rooms, is not much more expensive than the average home in the UK, at around £281,161 (AU$438,911), according to the UK government.

In Vancouver, the median benchmark price for an apartment is $755,000, also significantly higher than on the Scottish island.

Prices outside of Canada’s major cities are not much more affordable and still well above the island’s asking price.

Suburbs outside Toronto, such as Richmond Hill, Vaughan, Aurora, Brampton and Markham, all list median home prices of $1 million or more, according to Zolo.

For example, July sales in the Greater Toronto and Vancouver Areas were down more than 40% compared to last summer and more than 20% compared to June.

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