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New study highlights the gap between condo and house prices in major Canadian cities

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As the average price of a home in Canada rises year-over-year, a new study is highlighting the growing gap between the cost of condominiums and houses in major Canadian cities. CTVNews.ca has compiled a list of houses and condos that are currently on the market, while comparing average prices between both property types.

As average home prices and interest rates rise, housing affordability has become more of a concern for Canadians.in an effort to secure more affordable housing and a lower cost of living.

The study also looks at the median household income of various Canadian cities to determine how many years of employment it may take to match the price difference between houses and condominiums. Income figures were sourced from Statistics Canada’s 2021 census.

Source: News Formal (newsformal.com)

 

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