Quarterly house price to income ratio in Canada 2015-2019

In the fourth quarter of 2019, the house price to income ratio in Canada amounted to 119.8 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.

Canadian home prices are falling

Canadian house prices steadily rose until 2017, but have been falling since and are set to stabilize in the near future. This is 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, one of the world’s most expensive cities for homes, 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.

House price to income ratio in Canada from 3rd quarter 2015 to 4th quarter 2019

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Sources

Release date

March 2020

Region

Canada

Survey time period

Q3 2015 to Q4 2019

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Statistics on "Residential housing in Canada"

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