Quarterly house price to income ratio in Canada Q3 2015-Q4 2021
In the fourth quarter of 2021, the house price to income ratio in Canada amounted to around 141.9 percent. This ratio was calculated by dividing nominal house prices by nominal disposable income per head. The index was based on 2015 prices, which means that the index equaled 100 in that year. The significant drop in the first half of 2020 was likely an effect of the COVID-19 pandemic.
Canadian home prices are falling
Canadian house prices rose steadily in recent years. This was also the case in British Columbia, which has consistently been the most expensive province for housing. This is likely due to the fact that Vancouver, Canada's most expensive city, is located there.
Canadian incomes are rising
Incomes in Canada have steadily risen since 2000 and show no signs of slowing down in the near future. This should improve housing affordability, as long as home prices don’t outpace wage growth.
Canadian home prices are falling
Canadian house prices rose steadily in recent years. This was also the case in British Columbia, which has consistently been the most expensive province for housing. This is likely due to the fact that Vancouver, Canada's most expensive city, is located there.
Canadian incomes are rising
Incomes in Canada have steadily risen since 2000 and show no signs of slowing down in the near future. This should improve housing affordability, as long as home prices don’t outpace wage growth.
