Affordability Index Detached Bungalow

Housing Affordability Index

Detached Bungalow

 

Average Price

Qualifying Income

Affordability Measure

Province

Q1 2009

Y/Y % ch.

Q1 2009

Q4 2008

Q1 2009

British Columbia

480,700

-6.4

97,200

65.0

59.0

Alberta

336,100

-9.1

74,200

37.8

33.2

Saskatchewan

291,400

-0.4

67,700

45.3

42.0

Manitoba

219,400

0.7

55,400

38.2

35.3

Ontario

306,400

-2.5

72,700

42.8

38.6

Quebec

191,500

1.5

46,700

34.8

32.3

Atlantic

182,200

5.2

46,200

34.2

31.3

Toronto

417,900

-3.9

93,100

51.4

45.9

Montreal

235,700

0.8

55,300

39.7

36.5

Vancouver

575,200

-9.6

114,300

69.3

62.6

Ottawa

317,500

1.9

77,600

42.8

39.1

Calgary

391,800

-11.5

82,400

40.9

35.1

Edmonton

328,300

-7.1

73,900

38.0

34.0

Canada

293,800

-3.1

67,200

43.4

39.4

Index based on a 25% down payment and a 25 year mortgage loan at a five year fixed rate. The higher the index, the more difficult it is to afford home. An affordability index of 50 means that homeownership costs including mortgage payments, utilities and property taxes take up half of a typical household's monthly pre-tax income.

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Constantine Isslamow

Real Estate Broker/Mortgage Broker/Manager

Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.

Independently Owned and Operated

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CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391 

Source: RBC Financial Group Housing Affordability Index, July 2009

Constantine Isslamow

Constantine Isslamow

Broker of Record
CENTURY 21 United Realty Inc., Brokerage*
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