Hi everyone. Some interesting data below....as always text or call 204-724-2573 if I can help you with your real estate needs.
Here is that data....
Moneysense Magazine just ran an article ranking the top 35 cities in which to purchase real estate in Canada in 2018.
The article is available through this link:
The ranking isn't terribly objective and really isn't all that useful.
What I found extremely interesting in the article however is that it discloses the ratio of average house price to average family income in each of the cities. The formula obviously being (Average House Price / Average Family Income).
The higher the result, the more expensive the housing market.
Here are a few of the numbers for average home price to income.....
Vancouver - 22.64 times average income
Victoria - 10.27 times average income
Toronto - 9.14 times average income
Winnipeg - 4.68 times average income
It is amazing to me how different these numbers are. Brandon wasn't included in the list but I think we can assume it would be similar to Winnipeg. I don't care for our winters, but I do greatly prefer how much house we can get relative to our incomes.
Have a great day.