Vancouver's multiple is 11.8 and Toronto's is 7.7; both scores are a point higher than 2015, suggesting median
homes prices in each city increased by the equivalent of a full year's income in the span of 12 months.
In an exclusive interview with Maclean's this week, Bank of Canada Governor Stephen Poloz shot down any suggestion the Bank's easy money policy is responsible for
home prices in cities like Toronto and Vancouver rising at double - digit annual rates.
According to a March 2016 article in The Seattle Times: «Single -
family home prices in the city... jumped 24 percent over the year to a median $ 644,950.»
Yet
home prices in the city remain exceptionally affordable: The average 2015 home cost just under $ 216,000, a little over two and a half times the average household income.
Lack of infrastructure funding by the federal government has resulted in higher development charges by developers, which are passed on to homebuyers through
higher home prices in cities like Milton, Rizvee says.
In the video, I see I was too harsh on Seattle, it's not in the same league as San Francisco as far as home price increases go,
although home prices in both cities will eventually be squeezed when the current tech boom cools off.
Despite all of that, this city remains one of the most affordable in the country, with the current median
home price in the city at about $ 110,827.
Vancouver's multiple is 11.8 and Toronto's is 7.7; both scores are a point higher than 2015, suggesting median
homes prices in each city increased by the equivalent of a full year's income in the span of 12 months.
Average
home prices in these cities aren't quite as high as in the tech hubs or New York, but they are still outside the range most residents would consider affordable.
I was shocked when I saw that the median
home price in the city is $ 267,000, according to data compiled by Trulia.
By their estimation,
home prices in the city will actually drop a bit over the next 12 months.
According to the Unison's Home Affordability Report, the median
home price in this city is only $ 31,787, although it should be noted that some homes here are in need of major repairs.
According to the research team at Zillow,
home prices in the city will rise by around 3.7 % during 2017.
At the time this article was published, in early December 2016, the median
home price in the city was around $ 500,000 — quite a bit higher than the same time in 2015.
This report analyzed the luxury real estate market in four cities: Greater Toronto Area, Greater Vancouver, Greater Montreal Area and Calgary markets, and defined luxury as any property that cost no less than four times the average
home price in these cities.
Homes in Grovenor and Sherbrooke — our top two neighbourhoods — are about $ 60,000 below the average
home price in the city.
If you bought near the top of the housing market and
home prices in your city are still significantly lower than they were at the top, then you might have been better off — at least financially — by doing a strategic default back in the day.
By their estimation, median
home prices in the city will rise by around 8 % between now and this time next year (August 2017).
By their estimation,
home prices in the city will rise by approximately 7.3 % between now and this time next year.
The current median
home price in the city is approximately $ 785,000.
Average
home prices in these cities aren't quite as high as in the tech hubs or New York, but they are still outside the range most residents would consider affordable.
By their estimation,
home prices in the city will actually drop a bit over the next 12 months.
I'm worried about the rapidly increasing
home prices in some cities.