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Posts Tagged ‘houses’

April Real Estate Newsletter

Friday, April 6th, 2018

 


Making your Real Estate needs my Priority

Dave Dry
Realtor, Century 21 Masters
Website: www.davedry.com
Blog: blog.davedry.com
Direct: 780 446 3727
Fax 1 866 217 4642

201, 10555-172 Street, NW, Edmonton, AB   T5S 1P1

Ph: 780.483.2122

110 – 5 Giroux Road, St. Albert, AB T8N 6J8

Ph: 780.460.8558

105, 4302-33 Street, Stony Plain, AB T7Z 2A9

Ph: 780.963.2285

 

The best and worst places in Canada to buy a home on one income

Thursday, March 22nd, 2018

If you ever dreamed of buying property on your own — without a partner, without a co-ownership arrangement, without family support — Greater Vancouver is definitely not the place to do it.

Greater Vancouver is the least affordable place in Canada to buy property on a single income, according to a new study conducted by Toronto-based real estate brokerage Zoocasa.

The most affordable? Saint John or Greater Moncton in New Brunswick, or Trois Rivieres in Quebec.

Using February 2018 home price data from the Canadian Real Estate Association and median household income data from Statistics Canada, the study calculated each city’s home-price-to-income ratio by looking at how many years it would take to pay off the average home if a buyer contributed the equivalent of 100 per cent of their annual income to the purchase price.

Of course, if you don’t already have the equivalent saved up, it’s not realistic to contribute all of your annual income into a home purchase, but this affordability measure does show where in Canada purchasing a home might be easier on a single-income household. The higher the ratio, the longer it would take to pay down the home.

The top three most affordable places to purchase a home on a single income were Saint John, N.B., Greater Moncton, and Trois Rivieres, Que., all tied with a ratio of 4.

These are the top 10 cities in Canada where it would take the shortest amount of time to pay off a home purchase.ZOOCASA / HANDOUT

Meanwhile, the top three least affordable places to purchase a home on a single income were Greater Vancouver, the Fraser Valley, and Greater Toronto, with ratios of 28, 25 and 19 respectively.

“Financial experts commonly recommend restricting shelter costs to just three times one’s annual income — however, this is outstripped by even the most affordable market in Canada,” according to the study.

“Owning the average-priced home of $171,596 in Saint John, N.B., on the regional median income of $39,163, would still require four times the homeowner’s annual earnings.”

On a double income, Greater Vancouver’s home-price-to-income ratio is still 12, while the Fraser Valley’s ratio is 9.

A number of cities on the most affordable list, however, do fall within the parameters of the old guideline, with Saint John and Greater Moncton, Trois Rivieres, Fredericton, and Saguenay, Que., all coming in with a ratio of 2.

These are the top 10 cities in Canada where it would take the longest amount of time to pay off a home purchase.ZOOCASA / HANDOUT

The 5 Most Affordable Home Markets

• Saint John: 4 (average home price: $171,596, median one-person income: $39,163)

• Greater Moncton: 4 (average home price: $174,800, median one-person income: $39,456)

• Trois Rivieres: 4 (average home price: $153,591, median one-person income: $34,745)

• Fredericton: 5 (average home price: $179,981, median one-person income: $34,724)

• Saguenay: 6 (average home price: $161,587, median one-person income: $29,125)

The 5 Least Affordable Home Markets

• Greater Vancouver: 28 (average home price: $1,071,800, median one-person income: $38,164)

• Fraser Valley: 25 (average home price: $795,100, median one-person income: $31,568)

• Greater Toronto: 19 (average home price: $751,700, median one-person income: $39,560)

• Okanagan Mainline: 18 (average home price: $509,545, median one-person income: $28,900)

• Victoria: 17 (average home price: $642,800, median one-person income: $37,793)

 

Taken from the Vancouver post March 22 2018.

 

 

 

 

 

 

Making your Real Estate needs my Priority

 

 

 

 

Dave Dry
Realtor, Century 21 Masters
Website: www.davedry.com
Blog: blog.davedry.com
Direct: 780 446 3727
Fax 1 866 217 4642

 

201, 10555-172 Street, NW, Edmonton, AB   T5S 1P1

Ph: 780.483.2122

 

110 – 5 Giroux Road, St. Albert, AB T8N 6J8

Ph: 780.460.8558

 

105, 4302-33 Street, Stony Plain, AB T7Z 2A9

Ph: 780.963.2285

 

March Real Estate Newsletter

Tuesday, March 6th, 2018

 

Making your Real Estate needs my Priority

Dave Dry
Realtor, Century 21 Masters
Website: www.davedry.com
Blog: blog.davedry.com
Direct: 780 446 3727
Fax 1 866 217 4642

201, 10555-172 Street, NW, Edmonton, AB   T5S 1P1

Ph: 780.483.2122

110 – 5 Giroux Road, St. Albert, AB T8N 6J8

Ph: 780.460.8558

105, 4302-33 Street, Stony Plain, AB T7Z 2A9

Ph: 780.963.2285

February 2018 Real Estate Newsletter

Friday, February 9th, 2018

Making your Real Estate needs my Priority

Dave Dry
Realtor, Century 21 Vantage Realty Ltd
Website: www.davedry.com
Blog: blog.davedry.com
Office: 780 483 2122
Direct: 780 446 3727
Fax 1 866 217 4642

January 2018 Real Estate Newsletter

Thursday, January 4th, 2018

Making your Real Estate needs my Priority

Dave Dry
Realtor, Century 21 Vantage Realty Ltd
Website: www.davedry.com
Blog: blog.davedry.com
Office: 780 483 2122
Direct: 780 446 3727
Fax 1 866 217 4642

 

December 2017 Real Estate Newsletter

Saturday, December 2nd, 2017

 

Making your Real Estate needs my Priority

Dave Dry
Realtor, Century 21 Vantage Realty Ltd
Website: www.davedry.com
Blog: blog.davedry.com
Office: 780 483 2122
Direct: 780 446 3727
Fax 1 866 217 4642

November 2017 Real estate Newsletter

Wednesday, November 1st, 2017

Making your Real Estate needs my Priority

Dave Dry
Realtor, Century 21 Vantage Realty Ltd
Website: www.davedry.com
Blog: blog.davedry.com
Office: 780 483 2122
Direct: 780 446 3727
Fax 1 866 217 4642

 

Bonnie Doon open house Oct 14

Thursday, October 12th, 2017

Please join me for an open house on October 14 from 2-4 pm.

Freshly painted.

Move in ready for you or your renters.

Large oversized double car garage, heated and insulated, ideal for the handyman or mechanic.

36 x 122 ft lot great for redevelopment.

 

 

Details

 

Making your Real Estate needs my Priority

Dave Dry
Realtor, Century 21 Vantage Realty Ltd
Website: www.davedry.com
Blog: blog.davedry.com
Office: 780 483 2122
Direct: 780 446 3727
Fax 1 866 217 4642

 

October 2017 Real Estate Newsletter

Tuesday, October 3rd, 2017

 

Making your Real Estate needs my Priority

Dave Dry
Realtor, Century 21 Vantage Realty Ltd
Website: www.davedry.com
Blog: blog.davedry.com
Office: 780 483 2122
Direct: 780 446 3727
Fax 1 866 217 4642

September 2017 Real Estate Newsletter

Wednesday, September 6th, 2017

Making your Real Estate needs my Priority

Dave Dry
Realtor, Century 21 Vantage Realty Ltd
Website: www.davedry.com
Blog: blog.davedry.com
Office: 780 483 2122
Direct: 780 446 3727
Fax 1 866 217 4642
The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the REALTORS® Association of Edmonton. Trademarks used under license from CREA.
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