The house price ratio in Canada peaked in the second quarter of 2022, followed by three quarters of decline and a slight rebound in 2023. 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 third quarter of 2024 amounted to *****, which means that house price growth has outpaced income growth by almost ** percent since 2015. Canadian home prices are fallingAfter several years of steady increase, Canadian house prices were forecast to fall slightly in 2023. This was also the case in British Columbia, which has consistently been the most expensive province for housing. This is likely because Vancouver, Canada's most expensive city, is located there. Canadian incomes on the riseIncomes 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.

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.

In November 2024, a single-family house in Oak Bay cost *** million Canadian dollars. Oak Bay was the most expensive suburb in Victoria, British Columbia, followed by Highlands and North Saanich. Victoria: an overview Victoria is the capital city of the province of British Columbia. The city is located south of Vancouver, and across the U.S. border from Seattle. In 2020, the average home price in Victoria was ******* Canadian dollars, which placed the city as the sixth most expensive Canadian city for residential real estate. Home affordability in Canada Housing affordability is, undoubtedly, one of the biggest barriers to homeownership in Canada. In 2023, the ratio of homeownership costs to income was **** percent. Nevertheless, more expensive locations in the country had a higher ratio, with Vancouver exceeding 100 percent, suggesting that on average, mortgage payments exceeded the monthly income. Amid lower affordability and worsening homebuyer sentiment, house prices in some of Canada's markets are forecast to decline slightly in 2024.

Price to Rent Ratio in Canada decreased to 134.71 in the first quarter of 2025 from 134.87 in the fourth quarter of 2024. This dataset includes a chart with historical data for Canada Price to Rent Ratio.

Shelter cost by tenure including presence of mortgage payments and subsidized housing for Canada, provinces and territories, census metropolitan areas and census agglomerations. Includes shelter-cost-to-income ratio, household total income groups and household type including census family structure, off reserve.

This dataset includes two tables which were custom ordered from Statistics Canada. One table includes information on shelter cost to income ratio and total shelter cost by tenure, household type, and household income. The other table includes variables on housing characteristics (total number of bedrooms, structural type, and tenure), and households (household size, household type, and age of primary household maintainer). The dataset is in Beyond 20/20 (.ivt) format. The Beyond 20/20 browser is required in order to open it. This software can be freely downloaded from the Statistics Canada website: https://www.statcan.gc.ca/eng/public/beyond20-20 (Windows only). For information on how to use Beyond 20/20, please see: http://odesi2.scholarsportal.info/documentation/Beyond2020/beyond20-quickstart.pdf https://wiki.ubc.ca/Library:Beyond_20/20_Guide Custom Order from Statistics Canada TABLE 1 includes the following dimensions and variables: Geography: Toronto CMA & Vancouver CMA to the census tract level Tenure: Owner (with and without mortgage), renter, subsidized, not subsidized Shelter Cost to Income Ratio: less than 15%, 15-30%, 30-50%, 50% or more, not applicable Household Type: -Census-family households -One-census family households without additional persons -One couple census family without other persons in the household -With children -Without children -One lone-parent census family without other persons in the household -One-census-family households with additional persons -One couple census family household with additional persons -One lone-parent census family with additional persons in the household -With children -Without children -One lone-parent census family with other persons in the household -Multiple census-family households -Non-census family household -One person households -Two or more person non-census households Total Shelter Cost: under $500 to over $3000 in intervals of $250 and $500 Household Income: in intervals of $10,000 up to $100,000 or more TABLE 2 includes the following dimensions and variables: Geography: Toronto CMA & Vancouver CMA to the census tract level Total number of bedrooms: No bedrooms to 4 or more bedrooms Tenure: Owner, renter Structural type: -Single detached house -Apartment with 5 or more stories -Other attached dwelling -Semi-detached house -Row house -Apartment or flat in a duplex -Apartment, building with fewer than 5 stories -Other single attached house -Movable dwelling Age of Household Maintainer: Begins at 15 and continues in 9 year intervals until 75 and over. Condominium Status: Condominium, not a condominium Household Type: -Census-family households -With children -Without children -Multiple census-family households -Non-census family household Household Size: One person up to 5 or more persons Original file names: EO2969 - Table 1 (Part 1) Cost income household _Toronto and Vancouver 2016.ivt EO2969 - Table 2 Tenure and dwelling_Toronto and Vancouver 2016.ivt

This dataset includes two tables which were custom ordered from Statistics Canada. One table includes variables on housing characteristics (condominium status, total number of bedrooms, structural type and tenure), and households (household size, household type, age of primary household maintainer). One table includes information on shelter cost to income ratio and total shelter cost by tenure, household type, and household income. The dataset is in Beyond 20/20 (.ivt) format. The Beyond 20/20 browser is required in order to open it. This software can be freely downloaded from the Statistics Canada website: https://www.statcan.gc.ca/eng/public/beyond20-20 (Windows only). For information on how to use Beyond 20/20, please see: http://odesi2.scholarsportal.info/documentation/Beyond2020/beyond20-quickstart.pdf https://wiki.ubc.ca/Library:Beyond_20/20_Guide Custom order from Statistics Canada TABLE 3 includes the following dimensions and variables: Geography: Toronto CMA & Vancouver CMA to the census tract level Age of Household maintainer: Age groups are divided into 9 year intervals starting at age 15 and ending at category 75 and above Condominium status: Condominium, not a condominium Tenure: Owner, renter Household size: From one person up to 5 or more persons Structural type: -Single detached house -Apartment with 5 or more stories -Other dwelling -Semi-detached house -Row house -Apartment, detached duplex -Apartment, building with fewer than 5 stories -Other single attached house -Movable dwelling Total number of bedrooms: From no bedrooms to 4 or more bedrooms Household type: -Census-family households -With children -Without children -Multiple census-family households -Non-census family household TABLE 4 includes the following dimensions and variables: Geography: Toronto CMA, Vancouver CMA Total Shelter cost: under $500 to over $3000 in intervals ranging from $250 to $500 Tenure: Owner (with and without mortgage), renter Household type: -Census-family households -One-family households -Couple family households -With children -Without children -Lone-parent households -Multiple census-family households -Non-census-family households -One person households -Two person households Shelter cost to income ratio: less than 15%, 15-30%, 30-50%, 50% or more, not applicable Household income: in intervals of 10,000 up to the category of $100,000 or more Original file name: EO2969 - Table 3 Tenure and dwelling_Toronto and Vancouver 2006.ivt EO2969 - Table 4 (Part 1) Cost income household_Toronto and Vancouver_2006.ivt

In late 2023, data centers were the type of building with the highest construction costs in Vancouver. That year, construction costs of hospitals stood between 670 and 850 Canadian dollars per square foot. Light and heavy industry buildings had the lowest construction costs. These costs are similar to those of other big Canadian cities, such as Montreal.