Neighbourhoods
Compare Land Transfer Tax
paid in 1987 to now
paid in 1987 to now
In 1987, the average price for a residential-detached house in Winnipeg and surrounding areas was $82,000. In 2011 the average price has increased by over 300% to $249,000.
In 1987, if you bought an average priced home, you would pay $260 in Land Transfer Tax. In 2011 the average priced home would cost you $2,630 in Land Transfer Tax. This represents an increase of over 1,000% since 1987. We are talking about thousands of dollars in difference and this is just for one purchase. Given families on average can move every 5 to 7 years there is a real significant equity loss that can put a serious crimp in anyone's retirement nest egg.
To the left are links to example neighbourhoods in the city. Each have homes that sold in 1987 and then again in 2010 / 2011. You may be surprised to learn how much the Land Transfer Tax has increased for these homes.