Housing numbers on the rise in Alberta
Posted Aug 28, 2014 7:39 am.
This article is more than 5 years old.
RBC has published its latest home affordability report.
According to Canada’s biggest bank, Alberta’s housing market was on a roll in the second quarter.
However, despite hefty price gains, home ownership in our province and city is still considered a bargain compared to other major centres.
Chief Economist Craig Wright said those looking to buy a house in Calgary will need to put aside 34 per cent of their pre-income to cover mortgage, property taxes and utility costs.
In Vancouver that figure is 81 per cent, 56 per cent in Toronto, and 37 per cent in Montreal.
Wright said helping offset rising house prices in our city are solid income gains and a drop in mortgage rates.
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