June 27, 2019 – Toronto and Vancouver are the two worst cities, in the country, in terms of affordability of property. Despite the threshold of housing affordability having improved significantly in Toronto, in 2018, it remains higher than ever. Vancouver is no exception, where the affordability crisis also persists in this region. This is reflected in RBC's recent report Housing Trends and Affordability.
‘’Severe affordability issues remain a major obstacle for all but the wealthiest in Vancouver, Toronto and Victoria’’, says this report. In Toronto, the overall RBC measure was 66% in the first quarter of 2018. This measure expresses a proportion of a household's income. Its decrease indicates an increase in the affordability of property. Prices are beginning to rise "moderately" in Toronto, however, "RBC sees little prospect of significant improvement in the near term’’.