A Desjardins study indicates that St. Catharines has the largest decrease in house affordability.
It shows that during the first quarter of this year, affordability went down by 14 percent in St. Catharines.
Kingston and Kitchener-Cambridge-Waterloo tied for second place, with a decrease of 12.2 percent.
Throughout the entire country, affordability went down by 11.2 percent.
While the report places the blame on increased sale prices and ownership costs, as well as a decline in average after-tax income, Quebec and Ontario reported increases in average after-tax income.
The report indicates that in St. Catharines, the average sales price is now $717,000, which is up from $621,454 in the fourth quarter of 2020.
To view the study, click here.
Spend Tax Dollars Locally: MPP
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