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
www.Twitter.com/ConstantineC21
CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391
Source: RBC Financial Group Housing Affordability Index, July 2009
Posted by Constantine Isslamow
on September 4, 2009