Ownership costs dropped in nearly every market, with Vancouver, Toronto and Victoria seeing the largest decreases. Yet, these cities remain the country\u2019s least affordable. Regina stood out as the only major market where costs rose slightly.<\/p>\n
\u201cAffordability measures are back to historical norms in the Prairies. However, they\u2019re still a long way from more attainable pre-pandemic levels in the rest of the country with some exceptions,\u201d Hogue said.<\/p>\n
However, the tailwinds that have driven these gains are fading. \u201cThe speed of improvement is likely to slow. We expect further easing in ownership costs, but see the effect of earlier interest rate cuts fading. Decelerating income growth will also dampen buyers\u2019 purchasing power,\u201d Hogue said.<\/p>\n
RBC\u2019s analysis points to a cooling labour market and rising unemployment, particularly in Ontario, as key risks. \u201cThe ongoing trade war is taking a toll on the province\u2019s manufacturing sector with ripple effects spreading through related industries and supporting services,\u201d Hogue said.<\/p>\n
Regional disparities persist as affordability stabilizes<\/p>\n
In Vancouver, the affordability measure remains at a punishing 89.2%, the highest in the country. \u201cProperty transactions remain suppressed despite modest summer gains, underscoring persistent affordability burdens,\u201d Hogue said.<\/p>\n","protected":false},"excerpt":{"rendered":"Ownership costs dropped in nearly every market, with Vancouver, Toronto and Victoria seeing the largest decreases. Yet, these…\n","protected":false},"author":2,"featured_media":56937,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[6433,138,47694,220,111,139,69,47238],"class_list":["post-56936","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-affordability","tag-business","tag-canadian-housing-market","tag-markets","tag-new-zealand","tag-newzealand","tag-nz","tag-rbc"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/56936","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=56936"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/56936\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/56937"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=56936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=56936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=56936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}