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A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!

Tuesday, January 24, 2017

Vancouver remains one of the world’s most expensive cities

Vancouver remains in the top three most expensive cities to own a home for middle-income earners.

An annual housing affordability report from Demographia ranks Hong Kong as the most expensive, the same as last year; but Vancouver has slipped to third with Sydney, Australia taking the second-place spot. The Californian markets of Santa Cruz and Santa Barbara complete the top 5.

Vancouver’s median priced home would cost a median income earner 11.8 times their income, up from 10.8 times a year ago. Toronto is at number 28 in the listings with an income multiple of 7.7.

The study talks of the rapid deterioration of the health of the housing markets in Vancouver and Toronto, based on 2016 figures. Nationally, the 4.7 income multiple for major markets is deemed “severely unaffordable” and for all housing markets the ratio is 3.9.

Among 40 markets, 10 are deemed affordable, 13 moderately unaffordable, 10 are seriously unaffordable and 7 are severely unaffordable.

The most affordable market is Moncton with a 2.2 income multiple with Ottawa-Gatineau leading affordability for major markets with a 3.9 income multiple, however it is still ranked as moderately unaffordable for middle-earners.

MBN

We hope you are finding our Blog informative and enjoyable to read while keeping you up to date with the ever changing real estate market.

Please feel free to contact me via Direct/Text or e-mail at any time and my team will be pleased to assist you, family members and friends with all your real estate needs. Referrals are always welcome!

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