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Canadian House Affordability - Province Comparisons

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Canadian House Affordability

One of the major attractions of a move to Canada is the cost of housing compared with other western countries. Newcomers to Canada - particularly from Europe, the UK and Australasia - enjoy a double benefit from buying property in Canada.

Firstly any initial funds they bring with them stretch further in most parts of Canada than in their own housing markets.

Secondly, the ratio of wages to house prices in most parts of Canada is more favourable than in many other countries. (British Columbia, where the country's mildest weather is found, is a major exception.)

Several of Canada's provinces have property prices that rank among the lowest in the western world.

Canadian House Affordability The Provinces Compared Second Quarter 2008

Province Number of Years of Average Individual's Wage to buy an Average House
British Columbia 11.1
Alberta 7.8
Ontario 7.0
Quebec 5.6
Saskatchewan 6.1
Nova Scotia 5.4
Manitoba 5.0
Newfoundland / Labrador 4.7
Prince Edward Island 4.4
New Brunswick 3.7
Canadian Average 7.4