Ottawa, London represent Ontario on list of most affordable cities for first-time home buyers

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Ottawa, London represent Ontario on list of most affordable cities for first-time home buyers
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First\u002Dtime buyers of homes who either live in Ottawa or London stand not only the best chance in Ontario of securing a property, but the entire country,…

According to the report, homeowners in the city of Ottawa will see their “median annual income” of $121.790 “constitute” 19.88 per cent of house prices, which average $612,661. Meanwhile, the city’s property tax consumes 4.39 per cent of income and an annual electricity bill comes in at $1,560 or 1.2 per cent of income.

A spokesperson for Edmonton Homes said the study “reveals where it is most favourable for first-time buyers to start their search, and it highlights the difference in how much people need to embark on the adventure of home ownership depending on the city they are in.Article content Metrics for – St. John’s – proved why they placed where they did. In St. John’s, the report notes that the city’s homeowners’ median salary of $104,630 forms 37.31 of the average house price in the city. Property taxes were $3,650, which took up 3.49 per cent of an owner’s median salary, while annual property taxes cost $1,656.

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