Blogs

In a continuing trend, British Columbia is still the least affordable region in Canada to live, led by Vancouver and Victoria. Vancouver is also the second least affordable city among major international housing markets, trailing only Hong Kong.

As the price of property in Canada has continued to rise, many home buyers have turned to purchasing a house with a rental suite to help with mortgage payments. Over the past few years, we've worked with many folks who were only able to qualify for a mortgage if they had rental income to supplement their household earnings. But if you're planning on your tenant completely taking care of your mortgage payments, is that really the case?

There has been a lot of speculation about the impact of foreign property ownership on real estate prices over the past couple of years. In joint research from Canada Mortgage and Housing Corporation (CMHC) and Statistics Canada, we can finally see some numbers and what they mean for our local housing market.

The average price of a home in Canada hit another all-time high in October, rising 7.1 percent over the past year to just short of $420,000. However,  economists at Canada's major banks continue to warn that current house price trends can't continue.