Home affordability has worsened substantially in Canada since 2021. In the first quarter of 2025, the monthly single-family mortgage payment amounted to approximately 61.7 percent of a household's income, on average. In 2021, when affordability had improved slightly, the average mortgage payment constituted 46.5 percent of a household's income.

Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2024. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 116.2 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.

Canada Manufactured Homes Market size was valued at USD 2.08 Billion in the year 2024, and it is expected to reach USD 2.85 Billion in 2032, at a CAGR of 4% over the forecast period of 2026 to 2032.Key Market Drivers:Housing Affordability Crisis: The ongoing housing affordability crisis is the primary driver of Canada's manufactured home market. According to the Canadian Real Estate Association (CREA), the national average home price reached $716,100 in January 2024, up 7.6% year on year. According to the Canadian Manufactured Housing Institute (CMHI), manufactured homes are significantly less expensive than traditional site-built homes, with prices ranging from 30 to 50% lower.Urbanization and Population Growth: Urbanization and population increase in Canada are pushing the manufactured house market by growing demand for low-cost, high-quality housing options. Rising land costs and housing shortages make manufactured homes an affordable option, promoting market growth.

A transparent dataset and documentation bundle for analysing government-led Pre-Approved Housing Design Catalogues (PHDCs) across the United States, Australia, and Canada. Prepared to accompany the Monash/GBPN manuscript on PHDC design, engagement, practical efficacy, and governance implications.

Research Abstract:

The global housing affordability and availability crisis has renewed interest in Pre-Approved Housing Design Catalogues (PHDC), a policy tool originally introduced after World War I to accelerate residential construction. By reducing bureaucratic hurdles, permitting times, and design costs, PHDC aims to address housing shortages and streamline development. In recent years, jurisdictions in the United States, Canada, and Australia have implemented or piloted PHDC programs. However, despite increasing adoption, scholarly analysis remains limited, with much of the discourse confined to grey literature and anecdotal evidence. This study bridges the knowledge gap through a literature review and analysis of 16 case studies, examining PHDC’s historical origins, contemporary applications, and key challenges. It critically evaluates perceived benefits, such as cost savings and expedited permitting, against real-world limitations, including low engagement rates, limited design flexibility, and uncertain long-term affordability impacts. Findings indicate that while PHDC offers administrative efficiencies, it has not demonstrated transformational potential in solving housing affordability challenges. Regulatory frictions, market competitiveness, and the lack of financial incentives remain barriers to adoption. This study cautions against overreliance on PHDC and concludes with research and policy recommendations, emphasising broader housing strategies, improved permitting processes, and alignment with market needs to enhance PHDC’s effectiveness.

The average resale house price in Canada was forecast to reach nearly ******* Canadian dollars in 2026, according to a January forecast. In 2024, house prices increased after falling for the first time since 2019. One of the reasons for the price correction was the notable drop in transaction activity. Housing transactions picked up in 2024 and are expected to continue to grow until 2026. British Columbia, which is the most expensive province for housing, is projected to see the average house price reach *** million Canadian dollars in 2026. Affordability in Vancouver Vancouver is the most populous city in British Columbia and is also infamously expensive for housing. In 2023, the city topped the ranking for least affordable housing market in Canada, with the average homeownership cost outweighing the average household income. There are a multitude of reasons for this, but most residents believe that foreigners investing in the market cause the high housing prices. Victoria housing market The capital of British Columbia is Victoria, where housing prices are also very high. The price of a single family home in Victoria's most expensive suburb, Oak Bay was *** million Canadian dollars in 2024.