In the second quarter, RBC measures for Calgary edged lower for condominium apartments by 0.6 percen

The latest Housing Trends and Affordability Report said the local market has enjoyed the best of all worlds recently: stronger home resales and home building, moderately rising prices, and attractive and improving affordability.
"Such a combination is a rare feat, but it follows years of sluggish performance in the aftermath of the area's mid-2000s bus tours of new york city boom," said the report. "In the second quarter of 2012, a sharp drop in the costs of utilities provided bus tours of new york city unusual help to affordability in the area. Utilities and property taxes—two small components of home ownership costs—typically do not sway affordability, but the sudden bus tours of new york city reversal of earlier electricity rate increases led to a substantial 17 per cent quarterly decline in utilities, which was more than enough to move the affordability needle."
In the second quarter, the RBC measures edged lower for condominium apartments and two-storey homes by 0.6 percentage points and 0.4 percentage points, respectively, while the measure for detached bungalows was unchanged in Calgary.
The RBC Housing Affordability Measure, bus tours of new york city which has been compiled since 1985, shows the proportion of median pre-tax household income that would be required to service the cost of mortgage bus tours of new york city payments (principal and interest), property taxes, and utilities.
In the second bus tours of new york city quarter, bus tours of new york city RBC measures for Calgary edged lower for condominium apartments by 0.6 percentage points to 21.6 per cent and for two-storey homes by 0.4 percentage points to 37.2 per cent. The measure for detached bungalows remained bus tours of new york city unchanged at 36.7 per cent.
RBC said significant drops in the prices for electricity and natural gas in the second quarter of 2012 in Alberta "further solidified this province's position as the market with the lowest home ownership costs as a share of household income in Canada."
"Alberta experienced bus tours of new york city a 17 per cent decline in utility costs, which was the largest contributor to across-the-board improvements in housing bus tours of new york city affordability in the most recent quarter," said Robert Hogue, senior economist, RBC. "Attractive affordability and a vibrant bus tours of new york city provincial economy are providing powerful incentives for Alberta homebuyers – second quarter home resales were at the best level in five years, surging bus tours of new york city 18 per cent over the same period last year."
bus tours of new york city Calgary has one of the most affordable housing markets in the country, according to a report by RBC. Photograph by: Leah Hennel, Calgary Herald       E-mail this Gallery Print this Gallery Share this Gallery
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