Alberta homes most affordable in Canada
Posted Nov 25, 2011 7:45 am.
This article is more than 5 years old.
A strong provincial economy, which is helping generate jobs, is being credited for making Wildrose country Canada’s most affordable housing market.
The latest Housing Trends and Affordability Report from RBC Economics found renewed demand for homes in the third quarter.
RBC says the proportion of pre-tax household income needed to service the costs of owning a home is now running at 36 per cent in Alberta.
That compares to 40 per cent in Ottawa, 52 per cent in Toronto and a whopping 90 per cent in Vancouver.
Senior economist Robert Hogue tells 660News there is some downside to the report as an improving economy will soon put upward pressure on home affordability.
The only type of housing in Calgary that didn’t post an improvement in affordability in the latest report was two-story homes.
