You can find the full report here: Re/Max First Time Buyer's Report
Obviously we're talking averages here for the GTA, to find out the specifics for the Durham region all you have to do is get in touch!
| COST TO FINANCE AN AVERAGE-PRICED HOME* | |||||
| Five Per Cent | Amount | Monthly | Income | ||
| Market | Average Price | Downpayment | Financed | Carrying Costs | Required |
| Greater Vancouver | $780,819 | $39,041 | $741,778 | $3,479 | $130,460 |
| Victoria | $489,113 | $24,456 | $464,657 | $2,179 | $81,722 |
| Kelowna** | $390,462 | $19,523 | $370,939 | $1,740 | $65,239 |
| Edmonton | $313,242 | $15,662 | $297,580 | $1,396 | $52,337 |
| Calgary Metro** | $410,664 | $20,533 | $390,131 | $1,830 | $68,614 |
| Regina | $266,701 | $13,335 | $253,366 | $1,188 | $44,561 |
| Saskatoon | $292,463 | $14,623 | $277,840 | $1,303 | $48,865 |
| Winnipeg | $228,822 | $11,441 | $217,381 | $1,020 | $38,232 |
| Ottawa | $334,357 | $16,718 | $317,639 | $1,490 | $55,865 |
| Greater Toronto** | $442,978 | $22,149 | $420,829 | $1,974 | $74,013 |
| Hamilton-Burlington | $329,305 | $16,465 | $312,840 | $1,467 | $55,021 |
| Kitchener-Waterloo** | $283,844 | $14,192 | $269,652 | $1,265 | $47,425 |
| London-St. Thomas** | $226,709 | $11,335 | $215,374 | $1,010 | $37,879 |
| Québec City** | $239,329 | $11,966 | $227,363 | $1,066 | $39,987 |
| Island of Montréal** | $354,549 | $17,727 | $336,822 | $1,580 | $59,238 |
| Moncton | $153,028 | $7,651 | $145,377 | $682 | $25,568 |
| Halifax-Dartmouth | $257,355 | $12,868 | $244,487 | $1,147 | $42,999 |
| PEI | $142,218 | $7,111 | $135,107 | $634 | $23,762 |
| St. John's** | $255,512 | $12,776 | $242,736 | $1,138 | $42,691 |
| *Represents Gross Debt Ratio of 32 per cent, 5-year closed fixed-rate mortgage at 3.89 per cent, and a 30-year | |||||
| amortization period based on February 2011 year-to-date average price. Income required does not take into | |||||
| account property tax, heat or mortgage insurance. | |||||
| Carrying Costs and Income Data Calculated by: Miles Kulik, Verico MHC Mortgage Services | |||||
| Average Price Source: Canadian Real Estate Association, Local Real Estate Boards** | |||||
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