Tag: Royal LePage
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This Alberta City Was Just Named Canada’s Most Affordable Place To Buy A Home
As housing affordability continues to challenge buyers in Canada’s largest cities, one Alberta community has claimed the title of the country’s most affordable place to purchase a home. A new report from Royal LePage ranked Lethbridge, Alberta, as Canada’s most affordable city for homeownership based on the percentage of household income required to cover mortgage…
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More Than Half Of GTA Residents Would Leave Toronto For A Cheaper City, New Poll Finds
For many Canadians living in the Greater Toronto Area, homeownership may increasingly depend on leaving the region altogether. A new survey conducted on behalf of Royal LePage found that 55% of GTA residents would consider moving to a more affordable Canadian city if they were able to secure employment there. The findings highlight the growing…
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Bank of Canada’s Rate Cut: Limited Impact on Real Estate Market
On July 24, 2024, the Bank of Canada lowered its key interest rate by a quarter percentage point to 4.5%. While this move is intended to combat inflation and stimulate economic growth, experts suggest that its immediate impact on the real estate market will be limited. Modest Rate Cut and Market Expectations John Lusink, President…
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1 in 5 Toronto Renters Spend Over Half Their Income on Rent, According to a New Report
Toronto’s housing market crisis is not limited to soaring home values that price residents out of ownership; renting is also becoming increasingly unaffordable. A recent report by Royal LePage reveals that nearly one in five Toronto renters now spend more than half of their monthly income on rent, highlighting the severity of the city’s affordability…
Canada Housing Market 