A report from the Desjardins Group showed that in the first quarter of this year 12 of the 18 cities measured by its index are less affordable than they have been historically.
The figures show that the high cost of homes in Toronto
is spreading out to nearby cities with St Catharines switching from being six per cent more affordable than its average in the third quarter of 2014 to 5.2 per cent less affordable than average in the first three months of this year.
On the flip side, some of the most unaffordable cities are becoming more affordable, including Calgary
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Vermilion Bay, Aylen Lake, East Coulee, Grand Bank, New Denmark
Homes in Canada have become less affordable so far this year.