Highlights from RBC's Housing Trends and Affordability report for December 2019. Toronto condo apts:
🏆highest Q/Q price change (tied w/ St. John's)
🏆highest Y/Y ⬆️in affordability measure (which is really unaffordability)
🏆highest in measure vs. long-term average (11.9 pts) /1
Those titles aren't anything to be too enthused about. Here's how the measure has been trending. Can see those condo apts still climbing (blue line). Detached (top line) has steadied. Thick is aggregate, dotted is long term avg. /2
Here's Toronto summary. Highlights condo apts, and not much good news for those looking to get into market for the first time in 2020. /3
Interesting chart here. Compares Q3 costs to Q3 a year ago. Good news for Toronto is had 2nd highest improvement in monthly income ($228). Bad news is had 3rd highest increase in monthly ownership costs ($89). Still better ahead. #VanRE costs got lots cheaper (on avg). /4
Finally, how much longer can London and Windsor sustain double-digit gains in aggregate home price? #regressiontothemean /5
Full national 10 page report can be accessed here. /6
…ank-of-canada-2124.docs.contently.com/v/housing-tren…
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