I grew up in Ontario but haven't lived there for a few years (out of Canada for work post-grad). I picked UBC over UofT because:
(a) The tuition was significantly cheaper. So much so that combined with awards and bursaries--which UBC gives out very generously, in my experience--my 1L tuition will be less than two years of my undergrad tuition was at an Ontario university. Of course, YMMV based on your financial situation (+/-), but 11k base is an astronomical difference from the 36k sticker price I was looking at for UofT. I can't speak to the bursary/award situation there as I declined before I got that far but maybe someone else can elucidate further for you. I can afford to fly home on cheap flights more often or for recruits when I need to. I can afford to do anything I want to do post-grad now rather than being saddled with a requirement to enter BigLaw ASAP to pay off a PSLOC etc, which makes the experience of law school grade anxiety much more manageable, in my experience.
(b) The difference in global reputation is marginal, and even moreso within Canada. UBC, UofT and McGill are the only universities anyone had heard of at the place I was working at in two different non-Canadian major cities (financial services). Everything I've heard from our CSO and from my older UBC law friends is that self-selection is entirely at play when these statistics come out RE: Bay Street, but I would caution you to take this with a grain of salt, of course. It's inherently subjective and anecdotal. They collect data on people who do apply to the Toronto recruit, but whether people are following through on it or simply accepting a Vancouver/Calgary option isn't as clear from the numbers I've seen.
(c) On a more personal and totally arbitrary level, I had lived in Toronto for my undergrad and thought it might be a nice experience to go somewhere fresh and beautiful for my law school years. Vancouver is stunning when it wants to be, and the ease with which I can be 5km into a hike on a Sunday morning when I need a break from the serious intensity that is feeling like you're less clever than everyone else no matter how much you read and review is an incredible thing. 1L will be hard, but experiencing it in a place as beautiful as BC helps.
I don't want to convince you to come to UBC, because perhaps UofT will be the easier route to Bay Street, all things considered. But I have to trust that if you work hard and aim high, you will end up there in the end if you want--just with significantly less debt and a few less pounds from all the green juice, yoga and hiking you've indulged in over the last three years.
Good luck with your choice!