New Canadian Housing and Rental Market Report with Affordability Index

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After not raising rates for almost seven years, the Bank of Canada surprised many by increasing its benchmark interest rate this month by another +0.25 to 1.0%.

This new interest rate increase is the second 0.25 basis-point increase since July, and it is also now widely expected that another +0.25 is to be expected in October.

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Source: Bank of Canada

With Canada’s Housing and Rental Markets already having been a hot news topic for Canadians over the past decade with housing prices continued rising pricing year-over-year,  the new interest rate hikes which have already lead to higher mortgage rates, has created a very anxious environment for many Canadians, and a topic of much discussion for many economists, banking institutions, policy makers, and media commentators.

RentSeeker.ca, one of Canada’s largest and most popular real estate listing and reporting websites, today published a new INFOGRAPHIC showing the average cost of rents and housing prices across all 10 provinces and 3 territories with a newly released affordability index showing how much average income per household is spent on housing.

British Colombia tops the list with 24% of income spent on housing costs, with Ontario following in close second with 23%. View all the data points for all 13 provinces below:

 for media inquiries or to share this [INFOGRAPHIC], please e-mail at: [email protected]

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About us: RentSeeker.ca is one of Canada’s largest online real estate listing and reporting sites and has been featured on; Global News, CTV News, Huffington Post, MoneySense Magazine, BNN, Globe and Mail, The Toronto Star, CBC News, Financial Post, and CNBC.

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