An entire Scottish island, complete with a six-bedroom house, a helipad and a lighthouse, has gone up for sale at a price well below the average asking price of homes in major Canadian cities.
The 27-acre property, listed by UK estate agency Knight Frank, has 1,600 meters of rocky foreshore, a stone jetty with an open boathouse and panoramic views of the Isles of Arran, Ailsa Craig and the ‘North Ireland.
Its asking price is £350,000, or C$546,451.50. In many major Canadian cities, this amount of money would not earn you much.
According to real estate listing website Zolo Toronto Real Estate Trend, the average price for a five-bedroom home in Toronto in August is $2.6 million, about five times higher than the asking price on the Scottish island.
Average house prices in other major Canadian cities are also much higher than the asking price of detached property.
Vancouver has an average benchmark price of $2,000,600 for a multi-bedroom single-family home, and Calgary’s average sale price for a single-family home drops to $596,000.
The Scottish house, which has six bedrooms, a bathroom and two reception rooms, is not much more expensive than the average British house, which costs around £281,161 (C$438,911), according to the UK government.
In Vancouver, the average reference price for a condo is $755,000, which is also considerably higher than on the Scottish island.
Prices outside major Canadian cities are not much more affordable and always exceed the asking price on the island.
Suburbs outside of Toronto, such as Richmond Hill, Vaughan, Aurora, Brampton and Markham, all have average home prices of $1 million or more, according to Zolo.
July sales in the Greater Toronto and Vancouver areas, for example, were down more than 40% from last summer and more than 20% from June.
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