The pristine and beautiful environment is complemented by lower living costs. In March 2011, MoneySense Magazine ranked Cape Breton Island as having the lowest average house price among 180 municipalities across Canada. Housing prices will vary depending on the location. Buying time is also favourable. It is easy to find and purchase a home with an average time to buy of only 2.02 days.
According to the Canada Mortgage and Housing Corporation (CMHC), the median housing cost for a single detached unit in Cape Breton 2012 is $220,000. These prices are considerably lower compared to Halifax, where the median housing cost for a single detached unit is $379,900.
Chart: CBRM Vital Signs 2013