It’s not a big secret that the home prices in Vancouver are unbelievably high, but a new survey shows that the city has become one of the most unaffordable real estate markets in the world.
The survey ranked 272 metropolitan markets in Canada, the U.S. Ireland, the U.K., New Zealand and Australia. Both Vancouver and Victoria were listed as being “severely unaffordable”. While, Toronto edged into “severely unaffordable” from “seriously unaffordable”. For the first time, Montreal is on the cusp of being “severely unaffordable”.
Despite Ottawa’s hot real estate market, the city scored in the “moderately affordable” category. In Calgary and Edmonton affordability improved, but both cities are still considered “seriously unaffordable”.
