News article mentioning the 13th Annual Demographia International Housing Affordability Survey
• The Telegram, 23 January 2017
Housing in St. John”s has reached “”moderately unaffordable” range, says The Atlantic Institute for Market Studies (AIMS) which released an index this morning on housing affordability.
The same conclusion was reached about Halifax, the other of Atlantic Canada’s largest urban centres.
The index employs third-quarter data from 2016 to establish the affordability of middle-income housing in the large urban centres of nine countries: Australia, Canada, China, Ireland, Japan, New Zealand, Singapore, the United States and Great Britain, AIMS explained in a news release.
The results also showed that major Canadian markets (population more than one million) may be experiencing a housing bubble, with Vancouver’s housing prices rising by a full year’s household income in just one year.
For the fifth consecutive year, Moncton was the most-affordable urban market in Canada, well below the affordability threshold. Fredericton followed closely behind, followed then by Saint John and Charlottetown.
The index is being published in collaboration with the Demographia group in Illinois, USA and the Frontier Centre for Public Policy in Winnipeg.
Read the full article on The Telegram’s website.