RBC RANKS VAROUS HOUSING AFFORDABLILITY IN CITIES!!

Read more: RBC Economics on the state of Canada’s housing affordability

Victoria was the fifth lowest market in terms of overall value for would-be buyers, with prices averaging at $718,508 in 2020 and growing by 26% ($148,808) in three years.

Mississauga ranked fourth least affordable in the study, with an average 2020 home price of $922,750 and a three-year growth rate of 25% ($186,650).

Toronto came in at third, with an average 2020 home price of $915,001 and a three-year growth rate of 14% ($109,294).

Prospective buyers will fare even worse at Oakville-Milton, which had a $1.116 million average home price last year along with a 14% ($132,775) three-year pace of growth.

Vancouver was deemed the most unaffordable market in Canada, with an average 2020 home price of approximately $1.057 million despite a three-year growth rate of just 3% ($35,055).