The house price to income ratio in Canada peaked in the second quarter of 2022, followed by a decline until the second quarter of 2025. The ratio 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. Canada's index score in the second quarter of 2025 amounted to *****, which means that house price growth has outpaced income growth by almost **** percent since 2015. Canadian home prices continue to grow House prices in Canada have steadily increased over the past decade, despite a very mild decline in 2023. This trend is forecast to continue until 2026, albeit at a lower rate than in the period between 2019 and 2022. In British Columbia, which has consistently been the most expensive province for housing, the average house price is expected to reach nearly *** million Canadian dollars in 2026. The rising homeownership costs have also affected rents. In 2024, the average two-bedroom apartment rent in Vancouver exceeded ***** Canadian dollars. Canadian incomes on the rise 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 price growth slows down.

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.

Graph and download economic data for Residential Property Prices for Canada (QCAN628BIS) from Q1 1970 to Q2 2025 about Canada, residential, HPI, housing, price index, indexes, and price.

Data on resident buyers who are persons that purchased a residential property in a market sale and filed their T1 tax return form: number of and incomes of residential property buyers, sale price, price-to-income ratio by the number of buyers as part of a sale, age groups, first-time home buyer status, buyer characteristics (sex, family type, immigration status, period of immigration, admission category).

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.

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.

Price to Rent Ratio in Canada decreased to 125.50 in the third quarter of 2025 from 128.87 in the second quarter of 2025. This dataset includes a chart with historical data for Canada Price to Rent Ratio.

The average house price in the Canadian province of Prince Edward Island stood at ******* Canadian dollars in 2024 and was expected to increase in the next two years. By 2026, the average house price is forecast to reach ******* Canadian dollars. Compared to other provinces in Canada, Prince Edward Island stood below the national average in terms of house prices. Nevertheless, housing was still significantly more expensive than in Newfoundland and New Brunswick. House prices in Canada Prince Edward Island is one of the most affordable Canadian provinces for buying a house, with prices almost half below the national median in 2024. The national figure is somewhat skewed however by the extremely high cost of housing in British Colombia, and, to a lesser extent, Ontario. A better measure of affordability is the provincial house-price-to-income ratio, which shows Prince Edward Island to be the second most affordable province. Global comparison Canada is one of the most expensive countries in the OECD in terms of house-price-to-income ratio. In 2023, Canada scored higher than the United States, the UK, and Korea. That means that the cost of housing has increased at a much higher rate than the average income in the country.

Price-To-Book-Ratio Time Series for Automotive Properties Real Estate Investment Trust. Automotive Properties REIT is an unincorporated, open-ended real estate investment trust focused on owning and acquiring primarily income-producing automotive and other OEM dealership and service properties located in Canada and the United States. The REIT's portfolio currently consists of 80 income-producing commercial properties, representing approximately three million square feet of gross leasable area, in metropolitan markets across British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Québec in Canada, and Florida and Ohio in the United States. Automotive Properties REIT is the only public vehicle in Canada focused on consolidating automotive and OEM dealership and service real estate properties.

In 2024, there were more new home construction starts in Canada than in the previous year. Construction starts peaked in 2021, when there were ******* housing units whose construction started that year. Despite the restrictions imposed in Canada during the COVID-19 pandemic, the industry managed to continue operating, with increases in the number of housing starts in 2020 and 2021. How many homes are under development? In 2023, the number of housing units that were under construction in Canada was approximately ******** units. After a period of stagnation until 2016, the housing industry witnessed a significant surge in construction activity. Numerous factors are attributed to this rise, including the heightened demand for housing, an expanding economy that encouraged investment, and the response to the shortage of housing. How expensive are homes in Canada? In 2024, the average cost of a house in Canada was around ******* Canadian dollars. The average house price had increased that year by ****** Canadian dollars compared in 2024 compared to the previous year. The house price-to-income ratio in Canada increased slightly in the third quarter of 2024.

Housing conditions of Canadian military families: Canada, provinces and territories, census metropolitan areas and census agglomerations with parts Frequency: Occasional Table: 98-10-0145-01 Release date: 2023-11-15 Geography: Canada, Province or territory, Census metropolitan area, Census agglomeration, Census metropolitan area part, Census agglomeration part Universe: Population aged 17 and over in owner and tenant households with household total income greater than zero in non-reserve, non-farm private households, 2021 Census — 25% Sample data Variable List: Housing indicators (6), Household type of person (10), Tenure including presence of mortgage payments and subsidized housing (7), Structural type of dwelling (10), Age (15D), Gender (3), Military service status (4A) Footnotes: 1 Household type Household type refers to the differentiation of households on the basis of whether they are census family households or non-census-family households. Census family households are those that contain at least one census family. Non-census-family households are either one person living alone or a group of two or more persons who live together but do not constitute a census family. Census family households may be differentiated based on the presence of additional persons (that is, persons not in a census family). 2 Structural type of dwelling 'Structural type' refers to the structural characteristics and/or dwelling configuration, that is, whether the dwelling is a single-detached house, an apartment in a high-rise building, a row house, a mobile home, etc. 3 Age 'Age' refers to the age of a person (or subject) of interest at last birthday (or relative to a specified, well-defined reference date). 4 Gender Gender refers to an individual's personal and social identity as a man, woman or non-binary person (a person who is not exclusively a man or a woman). Gender includes the following concepts: gender identity, which refers to the gender that a person feels internally and individually; gender expression, which refers to the way a person presents their gender, regardless of their gender identity, through body language, aesthetic choices or accessories (e.g., clothes, hairstyle and makeup), which may have traditionally been associated with a specific gender. A person's gender may differ from their sex at birth, and from what is indicated on their current identification or legal documents such as their birth certificate, passport or driver's licence. A person's gender may change over time. Some people may not identify with a specific gender. 5 Given that the non-binary population is small, data aggregation to a two-category gender variable is sometimes necessary to protect the confidentiality of responses provided. In these cases, individuals in the category “non-binary persons” are distributed into the other two gender categories and are denoted by the “+” symbol. 6 Dwelling condition 'Dwelling condition' refers to whether the dwelling is in need of repairs. This does not include desirable remodelling or additions. Housing suitability Housing suitability refers to whether a private household is living in suitable accommodations according to the National Occupancy Standard (NOS); that is, whether the dwelling has enough bedrooms for the size and composition of the household. A household is deemed to be living in suitable accommodations if its dwelling has enough bedrooms, as calculated using the NOS. 'Housing suitability' assesses the required number of bedrooms for a household based on the age, sex, and relationships among household members. An alternative variable, 'persons per room,' considers all rooms in a private dwelling and the number of household members. Housing suitability and the National Occupancy Standard (NOS) on which it is based were developed by Canada Mortgage and Housing Corporation (CMHC) through consultations with provincial housing agencies. Shelter-cost-to-income ratio 'Shelter-cost-to-income ratio' refers to the proportion of average total income of household which is spent on shelter costs. Core housing need Core housing need refers to whether a private household's housing falls below at least one of the indicator thresholds for housing adequacy, affordability or suitability, and would have to spend 30% or more of its total before-tax income to pay the median rent of alternative local housing that is acceptable (attains all three housing indicator thresholds). Housing indicator thresholds are defined as follows: Adequate housing is reported by their residents as not requiring any major repairs. Affordable housing has shelter costs equal to less than 30% of total before-tax household income. Suitable housing has enough bedrooms for the size and composition of resident households according to the National Occupancy Standard (NOS), conceived by the Canada Mortgage and Housing Corporation and provincial and territorial representatives. Only private, non-farm, non-reserve and owner- or renter-households with incomes greater than zero and shelter-cost-to-income ratios less than 100% are assessed for 'core housing need.' Non-family households with at least one maintainer aged 15 to 29 attending school are considered not to be in 'core housing need' regardless of their housing circumstances. Attending school is considered a transitional phase, and low incomes earned by student households are viewed as being a temporary condition. 7 Military service status Military service status refers to whether or not the person is currently serving or has previously served in the Canadian military. Military service status is asked of all Canadians aged 17 and older. For the purposes of the 2021 Census, Canadian military service includes service with the Regular Force or Primary Reserve Force as an Officer or Non-Commissioned Member. It does not include service with the Cadets, Cadet Organizations Administration and Training Service (COATS) instructors or the Canadian Rangers. 8 Tenure refers to whether the household owns or rents their private dwelling. The private dwelling may be situated on rented or leased land or be part of a condominium. A household is considered to own their dwelling if some member of the household owns the dwelling even if it is not fully paid for, for example if there is a mortgage or some other claim on it. A household is considered to rent their dwelling if no member of the household owns the dwelling. A household is considered to rent that dwelling even if the dwelling is provided without cash rent or at a reduced rent, or if the dwelling is part of a cooperative. For historical and statutory reasons, shelter occupancy on Indian reserves or settlements does not lend itself to the usual classification by standard tenure categories. Therefore, a special category, 'dwelling provided by the local government, First Nation or Indian band,' has been created for census purposes. Presence of mortgage payments refers to whether an owner household makes regular mortgage or loan payments for their dwelling. Subsidized housing refers to whether a renter household lives in a dwelling that is subsidized. Subsidized housing includes rent geared to income, social housing, public housing, government-assisted housing, non-profit housing, rent supplements and housing allowances. 9 For more information on the military service status variable, including data quality and comparability with other sources of data, please refer to the Canadian Military Experience Reference Guide, Census of Population, 2021. 10 Adequacy, suitability, affordability and core housing need are four housing indicators. The indicator for housing adequacy is the dwelling condition. The indicator for housing suitability (a topic often referred to as crowding) is whether the dwelling has enough bedrooms for the size and composition of the household. The indicator of housing affordability is the proportion of household total income that is spent on shelter costs, also referred to as shelter-cost-to-income ratio. Core housing need refers to whether a private household's housing falls below at least one of the indicator thresholds for housing adequacy, affordability or suitability, and would have to spend 30% or more of its total before-tax income to pay the median rent of alternative local housing that is acceptable (attains all three housing indicator thresholds). 'Dwelling condition' refers to whether the dwelling is in need of repairs. This does not include desirable remodelling or additions. The category 'major repairs needed' includes dwellings needing major repairs such as dwellings with defective plumbing or electrical wiring and dwellings needing structural repairs to walls, floors or ceilings. 'Housing suitability' refers to whether a private household is living in suitable accommodations according to the National Occupancy Standard (NOS); that is, whether the dwelling has enough bedrooms for the size and composition of the household. A household is deemed to be living in suitable accommodations if its dwelling has enough bedrooms, as calculated using the NOS. Housing suitability and the National Occupancy Standard (NOS) on which it is based were developed by Canada Mortgage and Housing Corporation (CMHC) through consultations with provincial housing agencies. The category 'not suitable' includes households where the required number of bedrooms based on the NOS exceeds the reported number of bedrooms in the dwelling. 'Shelter-cost-to-income ratio' refers to the proportion of average total income of household which is spent on shelter costs. The category '30% or more of household income is spent on shelter costs' includes households who spend 30% or more of their average monthly total income on shelter costs. For more information, refer to the Census Dictionary: Dwelling condition; Housing suitability; Shelter-cost-to-income ratio; Core

The Canadian property insurance market, while exhibiting resilience, is undergoing significant transformation driven by several key factors. The period between 2019 and 2024 showed steady growth, likely influenced by increasing property values, a growing population, and heightened awareness of potential risks like climate change-related events (e.g., wildfires, floods). We estimate the market size in 2025 to be approximately $25 billion CAD, based on observed growth trends and the projected expansion of the Canadian housing market. Looking ahead to 2033, a Compound Annual Growth Rate (CAGR) needs to be estimated. Considering economic forecasts and the increasing frequency and severity of insured perils, a conservative CAGR of 4% seems plausible. This would position the market size at roughly $36 billion CAD by 2033. Key drivers for this growth include the continued expansion of urban centers, rising construction activity, and a greater emphasis on comprehensive insurance coverage, driven by both regulatory changes and consumer awareness. However, challenges remain. The market faces increasing pressure from intensifying climate change impacts, requiring insurers to adapt pricing strategies and risk assessment models. Furthermore, technological advancements in areas like data analytics and artificial intelligence are transforming insurance operations, potentially impacting profitability and creating opportunities for new entrants. Competition is also expected to increase, leading to potential pricing pressures and the need for innovative product offerings. Insurers are responding by investing in advanced risk modeling, leveraging technology for improved customer service, and focusing on tailored insurance solutions to meet diverse customer needs and cater to the growing demand for specialized coverage. Ultimately, the Canadian property insurance market’s future trajectory will depend on the interplay between these growth drivers, challenges, and the innovative strategies employed by market players. Recent developments include: P/C Agency Mergers Rise 10% in First Half of 2021 - There were 339 announced property/casualty insurance agency mergers and acquisitions during the first half of 2021, up from 307 in 2020., CMHC Changes Underwriting Practices on Mortgage Loan Insurance - Canada Mortgage and Housing Corp. is easing its underwriting criteria for mortgage loan insurance after changes it made last year were not effective and caused it to lose market share. The federal housing agency said that it returned to considering a gross debt service ratio of up to 39 per cent and a total debt service ratio of up to 44 per cent for borrowers who have a strong history of managing payment obligations. Gross debt service refers to the maximum amount of gross annual income that can be used for home-related expenses like mortgages, heat or condo fees, while total debt service is calculated when these expenses are combined with monthly debt payments owed on items such as credit cards or cars.. Notable trends are: CATASTROPHIC LOSSES.

If you’re a senior with low income, you may qualify for monthly Guaranteed Annual Income System payments.

Maximum payment and allowable private income amounts for the period from July 1, 2025 to June 30, 2026 are:

• $90 monthly for single seniors (maximum monthly payment amount), your annual private income must be less than $4,320
• $180 monthly for senior couples (maximum monthly payment amount), your annual private income must be less than $8,640

The data is organized by private income levels. GAINS payments are provided on top of the Old Age Security (OAS) pension and the Guaranteed Income Supplement (GIS) payments you may receive from the federal government.

Learn more about the Ontario Guaranteed Annual Income System

This data is related to The Retirement Income System in Canada

Join the Ontario Ministry of Finance for a free webinar to help you learn about tax credits, benefits, and other programs available to support Ontario seniors with a low income. Visit ontario.ca/TaxTalk to learn more.

Multifamily buildings had some of the lowest cap rates in Canada in the first quarter of 2023. For class A multifamily high rise buildings, investors could expect a capitalization rate of **** percent, while for class AA downtown offices, the cap rate was **** percent. The capitalization rate measures the rate of return on commercial properties and is calculated by dividing the net operating income of a property by its asset value. While a higher rate might promise higher return, it is also an indication of a riskier asset.