Canadian House Affordability - Province Comparisons

Affordability of Houses in Canada
The Provinces Compared

One of the major attractions of a move to Canada is the cost of housing compared with other western countries. Newcomers to Canada - particularly from Europe, the UK and Australasia - enjoy a double benefit from buying property in Canada.

Firstly any initial funds they bring with them stretch further in most parts of Canada than in their own housing markets.

Secondly, the ratio of wages to house prices in most parts of Canada is more favourable than in many other countries. (British Columbia, where the country's mildest weather is found, is a major exception.)

Several of Canada's provinces have property prices that rank among the lowest in the western world.

In the table below, the higher the ranking, the more expensive are houses relative to wages.

Canadian House Affordability
The Provinces Compared
(Affordability measured by the number of years of gross average wage needed to buy an average house.)

Province	Affordability Third Quarter 2009	Affordability Second Quarter 2008
British Columbia	11.4	11.1
Ontario	7.4	7.0
Alberta	7.1	7.8
Quebec	5.8	5.6
Saskatchewan	5.5	6.1
Manitoba	5.1	5.0
Nova Scotia	5.0	5.4
Newfoundland / Labrador	4.9	4.7
Prince Edward Island	3.9	4.4
New Brunswick	3.9	3.7
Canadian Average	7.7	7.4

Data Used: Average House Prices and Average Wages