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Most Canadian markets managed to record some improvements on a year-over-year basis. The greatest changes were seen in Calgary and Edmonton, both of which moved into, or significantly towards, the moderately unaffordable territory. Both markets shaved a half-year off of the median income multiplier that Demographia uses to measure affordability. Nationally, we saw an improvement in the median multiple of 0.3 from the survey released a year ago.
Once again, the major British Columbia markets win the prize for the largest income to price gap. In Vancouver, it’s estimated to take 9.5 times median income to own a home priced at the median for the city.
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