The latest data from the Canadian Mortgage and Housing Corporation shows, in the GTA, the average selling price for a home in July was $459,122, up almost 10 percent compared to last year. The GTA includes, Peel, Halton, York and Durham regions, and the city of Toronto.
According to a recent Housing Trends and Affordability report, by RBC, in the City of Toronto that price is even higher at $586,600 for a two storey 1500 square foot home. But, in Vancouver it's the highest. The cost of a standard two-storey home is $843,300, up almost 20% since last year. Making Vancouver the least affordable city in Canada to buy a home.
Read more in my post called "The Forgotten New Homeowner." at www.RateSupermarket.ca.