Regina remains the undisputed leader in home ownership affordability among the major cities in the nation.
The RBC home affordability index has just been updated for Q2 and, once again, Regina sits atop the pile. The bank has developed what it calls the Aggregate Measure which matches local income levels with local home prices. Then it can generate something of a ratio to depict affordability.
Regina is the only major city in the country that comes in under 30-percent. In other words, it takes less than 30-percent of the average income to purchase the average home in the Queen City. It stood at 27.9-percent which is just a whisker off the long-term standard. So, any talk that it is harder to buy a home in today’s market than the challenge faced by earlier generations is off the mark.
Saskatoon sat in fourth spot this time round, standing behind two Atlantic Canadian cities as well as Regina. It takes a little more than 33-percent of the average income for buyers of the average home in the Bridge City.
