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Reading Corner: RBC Annual Report on Canadian Housing Trends and Affordability

As a mortgage broker or agent, Canadian housing data is vital to your business. Especially in today’s shifting real estate market, it’s important you look to the numbers and trends to determine how best to serve your clients. Thankfully, there are several strong resources you can look to for that information.

One such resource is the RBC annual report “Housing Trends and Affordability,” released in December 2017. The RBC Economics research report looks at Canadian housing trends across 2017 and paints a picture of what we might expect to see in 2018.

The RBC annual report breaks down housing trends province-by-province and major city-by-major city. It also looks specifically at housing affordability — the portion of median pre-tax household income that would be required for housing costs, including mortgage payments, property taxes, and utilities, based on the average market price by housing type.

The RBC annual report can help you gain important insights to shift your business for targeted opportunities or to better understand what advantages/disadvantages exist in your chosen mortgage market.

Read the full RBC annual report “Housing Trends and Affordability” at http://www.rbc.com/economics/economic-reports/pdf/canadian-housing/house-dec2017.pdf.

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