National Real Estate Stats - February 2015

March 6, 2015 | Posted by: Patrick Mulhern

 

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CAAMP STATS

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Welcome to the March issue of CAAMP Stats. For more information on CAAMP visit www.caamp.org

Bank of Canada Interest Rate

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Welcome to the March issue of CAAMP Stats. For more information on CAAMP visit www.caamp.org

Bank of Canada Interest Rate

January 21, 2015

0.75%

March 4, 2015

0.75%

April 15, 2015

Next meeting date

Source: Bank of Canada

Bank Prime Lending Rate

January 27, 2015

2.85%

March 5, 2015

2.85%

April 16, 2015

Next meeting date

Source: Bank of Canada

Conventional Mortgage – 5 Year Rate*

January 28, 2015

4.79%

February 18, 2015

4.79%

March 4, 2015

4.74%

Source: Bank of Canada

* Determinant for high ratio mortgage variable qualifying rate

US Federal Reserve Board Discount Rate

December 17, 2014

0.00%-0.25%

January 28, 2015

0.00%-0.25%

March 18, 2015

Next meeting date

Source: US Federal Reserve

Exchange Rate $CDN($US)

January 29, 2015

0.7930 $CDN ($US)

February 18, 2015

0.8053 $CDN ($US)

March 5, 2015

0.7996 $CDN ($US)

Source: Bank of Canada

Government of Canada Bonds

Bond Type

January 28, 2015

February 11, 2015

February 25, 2015

1 year Treasury Bill

0.54%

0.46%

0.45%

3 year Benchmark Bond Yield

0.43%

0.43%

0.45%

5 year Benchmark Bond Yield

0.69%

0.74%

0.74%

10 year Benchmark Bond Yield

1.35%

1.44%

1.32%

Source: Bank of Canada

Total New Housing Starts (Seasonally adjusted and annualized)

Province

November 2014

November 2013

December 2014

December 2013

January 2015

January 2014

Newfoundland

2,000

3,600

1,700

2,500

4,700

2,600

PEI

500

600

600

700

1,100

600

Nova Scotia

3,600

1,600

3,200

2,900

2,200

2,500

New Brunswick

2,300

3,400

1,400

3,100

1,800

1,800

Quebec

43,500

37,200

35,700

39,800

31,400

32,300

Ontario

59,000

59,500

60,300

56,800

61,500

60,900

Manitoba

4,200

9,000

4,400

6,300

7,500

4,800

Saskatchewan

7,900

6,700

6,300

6,900

5,500

8,400

Alberta

39,100

42,200

35,100

36,200

44,800

39,200

British Columbia

30,200

28,400

30,800

32,300

26,700

27,100

CANADA

192,200

192,200

179,600

187,500

187,300

180,700

Source: CMHC Housing Now – February 2014 and February 2015.

Average MLS resale price for local markets

City

January 2014

January 2015

St. John’s

$333,429

$332,695

Halifax

$264,780

$270,120

Saint John

$176,351

$143,466

Quebec

$261,455

$257,952

Montréal

$318,562

$324,210

Ottawa

$348,001

$349,672

Toronto

$526,528

$552,575

Hamilton/Burlington

$386,451

$417,700

Winnipeg

$262,683

$261,612

Saskatoon

$332,133

$346,536

Regina

$335,213

$294,488

Calgary

$444,153

$437,908

Edmonton

$349,284

$362,394

Vancouver

$812,536

$827,558

Victoria

$491,772

$470,693

Source: Canadian Real Estate Association

Housing Affordability Index

Standard two-storey

Region

Average Price

Qualifying Income ($)

RBC Housing Affordability Measure

 

Q4 2014 ($)

Q/Q % ch.

Y/Y % ch.

Q4 2014 (%)

Q/Q Ppt. ch.

Y/Y Ppt. ch.

Avg. since '85 (%)

 

Q4 2014

 

Canada*

449,900

0.8

6.0

92,200

48.1

0.2

-.05

43.7

 

British Columbia

707,700

0.7

6.1

131,300

72.5

-0.3

-1.0

56.3

 

Alberta

417,000

1.1

6.9

86,000

33.9

0.0

-0.3

37.5

 

Sask

377,000

-1.1

0.4

80,100

38.0

-0.6

-2.4

37.6

 

Manitoba

318,300

-1.6

2.5

68,900

36.9

-0.4

-1.5

36.7

 

Ontario

499,600

2.2

8.8

103,100

51.5

1.0

1.1

44.0

 

Quebec

324,300

-1.5

0.7

69,300

41.3

-0.6

-2.2

39.9

 

Atlantic

248,900

-1.3

2.3

59,600

34.6

-0.5

-1.5

38.0

 

Toronto

725,600

3.0

10.3

141,500

65.6

1.8

2.2

54.3

 

Montreal

399,900

-0.3

0.2

82,700

48.1

-0.2

-2.8

42.6

 

Vancouver

906,400

1.1

7.2

164,400

85.6

0.0

-0.3

65.8

 

Ottawa

413,800

0.3

2.5

93,600

37.7

0.1

-0.8

38.5

 

Calgary

500,300

0.1

8.5

98,200

33.9

-0.4

0.0

38.8

 

Edmonton

410,000

2.1

10.8

86,400

36.3

0.4

0.5

36.5

 

Standard Condominium

Region

Average Price

Qualifying Income ($)

RBC Housing Affordability Measure

 

Q4 2014 ($)

Q/Q % ch.

Y/Y % ch.

Q4 2014 (%)

Q/Q Ppt. ch.

Y/Y Ppt. ch.

Avg. since '85 (%)

 

Q4 2014

 

Canada*

251,200

0.3

4.4

52,500

27.4

0.0

-0.6

27.0

 

British Columbia

312,500

0.9

4.7

60,000

33.1

-0.1

-0.8

28.6

 

Alberta

253,900

1.3

11.5

52,200

20.4

0.0

0.4

21.5

 

Saskatchewan

252,700

4.2

4.6

52,400

24.9

0.6

-0.7

24.2

 

Manitoba

209,300

-0.4

0.8

43,900

23.5

-0.1

-1.3

21.4

 

Ontario

274,600

0.5

4.1

58,400

29.2

0.2

-0.3

27.6

 

Quebec

199,100

-1.9

2.0

42,900

25.6

-0.4

-1.0

27.6

 

Atlantic

192,600

1.0

1.6

43,200

25.1

0.1

-1.3

24.6

 

Toronto

362,600

0.4

6.3

73,100

33.9

0.3

0.2

31.2

 

Montreal

239,700

0.2

1.1

50,200

29.2

0.0

-1.5

29.5

 

Vancouver

412,500

1.6

4.4

76,600

39.9

0.2

-1.0

33.1

 

Ottawa

269,600

0.3

-0.6

59,700

24.1

0.1

-1.1

23.5

 

Calgary

294,900

0.2

9.3

57,800

20.0

-0.2

0.2

22.2

 

Edmonton

244,000

1.4

10.8

50,700

21.3

0.1

0.3

18.3

 

Source RBC, March 2015

RBC Housing Affordability Measure captures the proportion of median pre-tax household income required to service the cost of a mortgage on an existing housing unit at going market prices, including principal and interest, property taxes and utilities. This measure is based on a 25% down payment, a 25-year mortgage loan at a five-year fixed rate, and is estimated on a quarterly basis. The higher the measure, the more difficult it is to afford a house.

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