First Time Home Buyer? We Can Help!

Are You A First Time Home Buyer? We Can Help!

Call Sutton Realty Today To See If You Qualify For The First Time Home Buyer Incentive!

Sutton Group Realty Systems Inc., Brokerage
416-896-3333
www.SuttonRealty.com

Link Condos – Affordable Condos and Government Incentives

Link Condos In Burlington – Affordable Luxury Living!

Brand New Development Close To The Waterfront

Perfect For New Homeowners With Government Incentives!

For More Information, Give Sutton Realty A Call Today
905-896-3333 www.SuttonRealty.com

https://www.youtube.com/watch?v=jnqPIRfaRkk

 

Can Canada Keep up With The Price Of It’s Real Estate Market?

New research from the RBC’s housing affordability report shows that only a small fraction of families in Canada can afford to buy an average-priced home.

As it stands, only 20% of families in Toronto can afford to buy a home currently, and this statistic does not include taking a mortgage stress test!

Aside from the obvious high pricing in Toronto & Vancouver, RBC’s graph indicates how prices have risen above affordability all throughout Canada.

The good news is that RBC’s affordability measure has declined for two straight quarters, meaning housing is slowly becoming more affordable. The west parts of Atlantic Canada are declining in price, and household incomes are rising, causing the bar to lower for ownership in most markets.

In Canada – it now takes 51.4% of an average household to cover the costs of an average priced home, down from 53.9% six months prior. In Toronto, the ratio fell to 66% from 75.3 within a 6 month period.

At this pace, Toronto’s housing slowdown would have to last another 4 years before the city becomes affordable. RBC economists concluded “Interest rates are no longer poised to increase amid heightened global trade uncertainty. And despite signs of a cyclical market bottom emerging this spring, we expect home prices to remain under downward pressure for months to come in many western Canadian markets”.

Are you looking for help with a mortgage? Looking to buy your first home – Or even sell? Give Sutton Realty a call today. Peace of mind is just a quick call away! We can’t wait to help 🙂

Sutton Group Realty Systems Inc., Brokerage

416-896-3333 / 905-896-3333

www.SuttonRealty.com