Thursday, March 24, 2011

March 2011 TREB Affordability Indicator Share of Average Household Income Used for Mortgage Principal Interest, Property Taxes, Utilities on the Avg

Explanation: This chart plots the share of average household income that goes toward mortgage principal and interest, property taxes and utilities for the average priced home in the GTA subject to the following assumptions:
1.Average annual or year-to-date home price as reported by TREB
2.20 per cent down payment
3.Average 5-year fixed mortgage rate (Statistics Canada); 25-year amortization
4.Average property tax rate reported by/estimated from the Statistics Canada Survey of Household Spending
5.Average utilities cost reported by/estimated from the Statistics Canada Survey of Household Spending and components of the Consumer Price Index
6.Average household income reported by the Census of Canada.



Toronto Real Estate Board (TREB) Average Prices and GraphFor more information please contact A. Mark ArgentinoA. Mark Argentino, Broker, P.Eng.,Specializing in Residential & Investment Real EstateRE/MAX Realty Specialists Inc., Brokerage2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1BUS. 905-828-3434FAX. 905-828-2829E-MAIL: mark@mississauga4sale.comWebsite: Mississauga4Sale.com

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