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December 11, 2018CANADA HOUSING STATISTICS PROGRAM, 2018 Statistics Canada has published data on Nova Scotia housing statistics, including data on residential property ownership and assessment values for 2018. This release also includes new annual data for Ontario and British Columbia.
The data distinguishes between resident and non-resident ownership. A residential property is considered to be owned by residents if the majority of owners is defined as resident. An individual is considered a resident if their primary dwelling is in the economic territory of Canada, and are considered a non-resident if their primary dwelling is outside the economic territory of Canada. Non-individuals (for example, businesses, governments, non-profit organizations) are considered residents if they engage in economic activities from a location in the economic territory of Canada, and are considered non-residents otherwise. Non-individuals own 7.9 per cent of the stock of residential property in Nova Scotia, representing 13.2 per cent of the total assessed value.
In Nova Scotia, 3.9 per cent of residential properties are owned by non-residents. Nova Scotia's rate of non-resident ownership is similar to British Columbia's (3.8 per cent) and higher than Ontario's (2.2 per cent). In Nova Scotia, the rate of non-resident ownership is highest for vacant land (7.9 per cent) and condominium apartments (4.6 per cent).
In Halifax, the rate of non-resident ownership is 2.5 per cent, lower than in Toronto (2.6 per cent) and Vancouver (5.0 per cent). Across the province, non-resident ownership is highest in Richmond (Subd. B, 14.3 per cent) and Shelburne (municipal district, 13.2 per cent). The rate of non-resident ownership is lowest in Middleton, Stewiacke (both 0.7 per cent) and Oxford (0.8 per cent). Non-resident owned properties represent 2.9 per cent of the total assessed value of residential property in Nova Scotia.
Map 1: Rate of non-resident ownership in Nova Scotia, Census subdivisions, 2018
The average assessment value of residential properties in Nova Scotia is $168,000 in 2018. The average assessment value is higher for residents ($169,000) than for non-residents ($126,000). This is also true in Halifax, where the average assessment value of resident owned properties is $280,000 compared to $210,000 for non-residents. The highest assessment values are in communities with large universities, including Halifax ($280,000), Wolfville ($260,000) and Antigonish ($240,000). The lowest average assessment values are in Cumberland (Subd. A, $50,000) and St.Mary's ($53,000).
Map 2: Average assessment value of residential properties in Nova Scotia, All types of ownership, Census subdivisions, 2018
In all three provinces, the most common type of residential properties are single-detached houses. In Nova Scotia, single-detached houses make up 69.3 per cent of residential properties, followed by vacant land (17.6 per cent). Condominium apartments make up 2.6 per cent of residential properties in Nova Scotia, compared to 10.7 per cent in Ontario and 20.0 per cent in British Columbia.
Note: Geographic boundaries are 2018 census subdivision boundaries. Arrow points north.
Canadian Housing Statistics Program, 2018
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