Study shows housing still more affordable in the north than the rest of BC

A report released on April 19 outlines just how affordable home ownership is in the north compared to the rest of the province.

A report released on April 19 outlines just how affordable home ownership is in the north compared to the rest of the province.

The Northern BC Housing Affordability Study released by the Northern BC Real Estate Board is based on number from 2011, and shows 30.8 per cent of pre-tax median household income in the north is needed to cover mortgage costs, taxes, utilities and fees, while that number is 70.2 per cent across BC. When compared to Vancouver, the difference is almost 60 per cent with that figure sitting at 90.6 per cent.

In Prince Rupert in 2011, that number sat at 29.2 per cent, the fourth lowest in northern BC behind Quesnel, Mackenzie and Kitimat.That number is also the lowest since 2007, with the affordability reaching a nine year high back in 2008.

In terms of the average house price, Prince Rupert is well below that of northern BC. Prince Rupert’s average selling price was $175,217 while the average for the region that stretches from the Yukon border to 100 Mile House was just under $250,000. The highest average selling price in northern BC was in Fort St. John at $323,608 while the lowest was in Mackenzie at $110,459.

 

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