Canada

House Price to Income Ratio - Canada Compared to Continent

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Canada	8.77x
USA	34.61x

 

 

Canada: House price to income ratio

The house price to income ratio is the ratio of the cost of a typical upscale housing unit of 100 square metres, compared to the countrys GDP per capita. Normally this ratio will be much higher in low income countries than in high income countries.

The formula is: (Price per square metre / GDP per capita)*100. The house price to income ratios published by the Global Property Guide are based on the Global Property Guides own proprietary in-house research, but we use the IMFs GDP per capita figures.

 

Canada has some of the best housing data in the world. Statistics Canada releases a monthly house price index. The Canadian Mortgage and Housing Corporation (CMHC) has statistics on median house prices (MLS), housing construction activities and rent. CMHC’s Housing Market Outlook and Rental Reports summarize this data. The Canadian Real Estate Association (CREA) produces forecasts of house sales activities. Scotia Bank reviews current developments in the real estate market.

General economics statistics are available from the Reserve Bank of Canada. There are also weekly updates of economic trends from the Bank of Scotia.