A new analysis by the Canadian Housing Statistics Program reveals information about living areas of homes in Nova Scotia, British Columbia, and Ontario.
It has found that newly-built condo apartments are getting smaller while single-family detached homes are increasing in size based on the above-grade living area, which excludes finished basements and levels below ground and is a standardized measure to compare property sizes across geographies.
In Ontario, the median living area of homes built in 2016 and 2017 was 665 square feet, 30% smaller than those built in the 1980s and 1990s, while in BC, there has been a 15% reduction.
The opposite is true for single-family detached homes where in Ontario, for example, the median above-grade living area of newly-built homes 30% larger than in the 1980s and 1990s at 2,380 square feet.
Assessment values higher in BC
The figures also show that the median assessment value per square foot is higher for all property types in British Columbia than in Ontario and Nova Scotia.
For a single-detached house in British Columbia it is $317, 55% higher than in Ontario ($205) and almost three times the value in Nova Scotia ($113).
For condos, it is $547 in BC and $375 in Ontario.
The full report is available at https://www.cmhc-schl.gc.ca/en/housing-observer-online/2019-housing-observer/living-areas-bc-nova-scotia-ontario
More market update: