 鲜花( 1)  鸡蛋( 0)
|
买 ?? 卖 ??
& \2 v5 ? H7 v+ H$ N' k0 f4 X* b I+ \) ]7 M( A+ E
ZT: Cost of home ownership continues to rise: RBC- I7 @6 r! a9 {2 N6 T" G
4 _+ j9 u; j% F/ r. ~
Canadian Press$ J% ]0 }) x$ j9 U' O- C3 ~& [1 I9 y
) K x0 {/ g9 }- F: {% [* P6 m" G. DWednesday, September 12, 20078 e9 x% k8 X! v' S( {) q4 K
6 d* y4 {1 B5 e2 W) ^TORONTO — The cost of owning a home in Canada continued to climb in the second quarter as affordability in Western Canada showed the biggest change, according to a new report by the Royal Bank.
' z3 L( e" t0 B! E) m. b% J% v
2 L& Z H% z, ~) u3 n) I2 t; pSaskatchewan suffered its worst ever quarterly deterioration of affordability on record, according to the bank, as an influx of people caught the housing supply off guard.
' T- T' @% T- x* I* h- H$ C+ E& ^0 b, ?
“In the second quarter, Canada's housing affordability experienced one of the largest and most broadly based quarterly deteriorations since the mid-1990s,” said Derek Holt, assistant chief economist, RBC.
0 P8 y% S" O% N* k; n' O9 ?- |7 }: S/ n0 ^2 L0 s% ? Z
“Higher house prices, mortgage rates, utilities and property taxes all combined to drive the country-wide deterioration.”
9 Z% J, {+ ?5 S6 K# ]5 b; F$ p6 K' k1 V+ o6 H- J t" J
The report measures the proportion of pre-tax household income needed to service the costs of owning a home. The higher the reading, the more costly it is to afford a home6 [% x, o u, O4 z: ^0 s
N2 H# j- F" G9 @! T0 \3 NThe bank said a standard condo was the most affordable, requiring about 29 per cent of income compared with 27.5 per cent in the first quarter.; k" u' d$ p9 O$ G/ H& b
- s8 \: |& u8 oA standard townhouse was next at 33 per cent, up from 31.5 per cent in the first quarter followed by a detached bungalow which increased from 39 per cent to 41 per cent in the second quarter.
4 K) }4 m2 }+ ^1 R% ~3 Z
. `6 [* n; G v9 `0 \6 L; }& yA standard two-storey home was 46 per cent, up from 44 per cent in the first three months of the year., l: M9 e$ {6 k9 P% @0 l
, h) j- m8 {3 w. J& f) U% u
Saskatchewan, Alberta and B.C. saw the biggest increase in costs in the quarter.
8 d1 E1 L" A2 _9 F3 g9 C$ @/ j1 l X0 t( ?4 D* h4 H
Affordability fell about 20 per cent in Saskatchewan with no signs that prices were letting up yet, but the bank said the high prices were starting to weigh on demand.
& m8 b! Q$ s3 z0 [% U# |0 C% B
5 }, p2 ~. i6 u# d! r# JAmong Canada's largest cities, a detached bungalow in Vancouver was the most expensive with the proportion of pre-tax household income needed to own a home coming in at 71 per cent. Toronto and Calgary followed at 45 per cent, Montreal at 36 per cent and Ottawa at 31 per cent., p. [: _3 M) ^ `4 r7 A# H7 @
/ N2 U9 i* [ E2 N“Market conditions in Vancouver have loosened up during the year, but conditions remain tilted in favour of a seller's market and are still supportive of fairly strong price gains,” the report said. |
|