It's easy to become overwhelmed when tackling a landscaping project for the first time. With all the choices at your disposal, it doesn’t take long before your landscaping plans and budget get out of hand. Thankfully, following a few simple guidelines will help you create a well-balanced landscape to enjoy for years to come.

Think About Your Needs

A good landscaping plan should be both aesthetically pleasing and serve a physical need. Think about what you want to do with the space and plan accordingly. This might include things like providing your kids with a place to play or growing a vegetable garden. Once you make a list of needs you can start working on some rough sketches of the yard and see what is feasible. These sketches do not have to be precise, but they should give you an idea of the layout of your yard.

Create a Budget

Once you decide on a plan, it's time to create a realistic budget. Even if you only plan on starting with a garden, plants and mulch add up quickly, and that is not accounting for rental equipment and other materials. Fortunately, if you plan correctly then you should have a good idea of what your landscaping ideas will cost and avoid being surprised by a massive bill.

Consider Climate

You should always keep in mind climate changes when planning landscaping. This includes noting any patterns of the sun and wind in your area. For example, if you build a patio in an area that gets a lot of sun but doesn’t have any shade, then summertime barbeques will not be comfortable or relaxing. You can, however, mitigate some of these weather inconveniences with a little bit of planning and knowledge.

Begin With Small Changes

It's tempting to make big changes when you start landscaping designs. After all, who doesn’t want to transform their yard into a dream space? Avoid this common pitfall for beginners by making small changes at first. Not only will this be easier to accomplish in a realistic timeframe, but it also gives you room if you change your mind. This is helpful when adding plants to the landscape, especially when they start growing and filling in.

Basic Landscaping Elements

There are five basic elements of outdoor design—color, form, scale, balance, and variety. All of these elements should be taken into account in your design. Choose colors that contrast with each other without feeling too overwhelming. Form is closely associated with scale and refers to the shapes of different plants, trees, and shrubs and how they interact with each other. The trick is to create a sense of balance throughout your landscape by incorporating similar plants in different areas.

Create a Focal Point

Your landscape should include a focal point that draws the eye. The focal point can be anything from a large sculpture to a standout tree, plant, or shrub. The key is to draw the attention to the focal point, which will naturally lead the eye throughout the landscape. You can also install more than one focal point depending on the size of the landscape.

Common Mistakes

One of the biggest mistakes beginners make is not paying enough attention to size and scale. An oversized deck can make a small yard look even smaller while a large tree can easily overtake a yard and create a gloomy atmosphere. Planning ahead should give you a good idea on how to use size and scale in your yard.

Be Flexible

One of the most important things is to remain flexible in your plans. Even the best of plans look a little different in reality and need a little adjusting. If you start small and follow the basics of landscaping, then you won’t have to make big changes on the fly. Not only will this save you time, but it will also be a little easier on your budget in the long run.

Affordability in Vancouver has improved slightly following the implementation of the foreign-buyer tax in August, but it remains a “major vulnerability” in the city, according to an RBC report released April 24.

This doesn’t mean a crash is likely, however, because the city’s employment situation is solid, according to the report.

The jobless rate in the city has fallen to 4.7% – the lowest it has been since 2008, and this trend is expected to continue, providing “substantial support” to the housing market, according to RBC.

One factor that could lead to vulnerabilities in the medium term is a declining adult population growth rate. Between March 2016 and March 2017, the growth rate was 1.4%; this is down from 1.9% over the previous year. According to RBC, this means the growth rate has dipped below a 1.5% threshold that signals the existence of elevated housing risks.

The market’s demand-supply balance has eased over the past year, moving away from a strong seller’s market. This happened quickly, with policy changes over the past several months lowering price expectations between September 2016 and January of this year, particularly for single-detached homes. Prices increased slightly in February and March, however, which RBC said is due to many foreign buyers returning to the market after initially stepping aside after the 15% tax was implemented.

Despite home prices dropping on a quarterly basis for the first time in four years, a new report suggests the housing market in Metro Vancouver is beginning to rev up once again.

Early evidence suggests the recent correction in Vancouver’s housing market may be short-lived, rebounding far sooner than expected. The realty firm says Canada’s two largest real estate markets continued their divergence in the first quarter of the year.

The aggregate price of a home in the Greater Toronto Area went up by 20 per cent in the first three months of this year to about $759,241. In the Greater Vancouver area, the price of a home rose 12.3 per cent year-over-year to $1,179,482.

No area has grown more over the last year than Langley where prices have jumped 21.2 per cent to an average of $794,213. Surrey remains the most affordable at $763,806. And the most expensive area is West Vancouver where the average price for a home is $3,306,286.

The correction in Vancouver began seven months ago, around the same time the provincial government introduced the 15 per cent foreign buyers tax to try and cool the market. Sales volumes then plunged and prices slowed. However, in the past month, sales in the Vancouver area have jumped by close to 50 per cent on a month-over-month basis.

It is possible that six months of pent-up demand will be unleashed on the market, sending prices sharply upward again; this when the pre-intervention 2016 trend was a natural market slowdown based on eroding affordability.

Across the country, the aggregate price of a home grew 12.6 per cent year-over-year to $574,575 during the first quarter.
The price of a two-storey home climbed 13.9 per cent year-over-year to $681,728, while the price of a bungalow rose 10.9 per cent to $490,018. Condo prices increased by 8.9 per cent to $373,768.

In Calgary, home prices were up only 0.6 per cent to $461,635, while in Edmonton they rose 0.3 per cent to $381,733.

Canadian home sales jump

The Canadian Real Estate Association says home sales last month hit a record high.

The association says home sales over its Multiple Listings Service system increased by 1.1 per cent in March to top the previous monthly record set in April 2016.

Sales were up on a month-over-month basis in more than half of the local markets measured, led by Greater Vancouver and the nearby Fraser Valley.

Compared with a year ago, sales were up 6.6 per cent as gains in the Greater Toronto Area led the way.

Finding a solution for affordable housing

The Greater Vancouver Board of Trade is out with a list of suggestions and recommendations for addressing the affordable housing issue. A forum is being held on the issue later today and one of the keys is something called “the missing middle.”

That term refers to a number of different multi-unit housing styles like courtyard apartments, triplexes or laneway homes (currently only available to renters), targeted at those in need of affordable options and often for people transitioning from single-family homes to higher density.

Board Chair Iain Black says it’s something often overlooked or ignored by planning departments. “If all the municipalities start to use a lens of the missing middle on all of their discussions when it comes to development policy i.e. What’s going to get built and land policy, i.e. Where’s it going to get built? Then this issue will get addressed in due course.”

He adds the affordable housing crisis across the region is hurting our economic prosperity. “If we want to attract 25 to 35-year-olds, who are the key to driving our economy forward from this point, we need to address housing demand for that demographic. Cities are the key drivers in this conversation.”

Black admits increasing density is a necessity when it comes to creating more supply. “More variety does mean more density. Because there are many different types of housing that we currently haven’t embraced yet. And if you look at other major cities in the world with a 100 or 200-year head start, they’ve already got all these various housing options already being implemented in the different communities,” says Black.

The board also wants more of a regional approach to the problem. “We’ve got a housing affordability issue because of the high demand for housing coupled with inadequate volume and the lack of diversity in terms of the type of housing available. And various options that people have in terms of getting into that housing, ownership, rental, co-ops, et cetera,” says Black, expanding the idea to include bungalow courts, multiplexes and live-work spaces.

Streamlining the development approval process by allowing for concurrent applications is also on the list. The board also calls for a uniform development approach across the region and pre-zoning for transit-oriented development near transportation hubs.

Parties showed support for housing suggestions presented by the industry; one party said it would increase BC’s foreign buyer tax.

CMBA presented a position paper, which outlined the association’s recommendations for addressing housing issues in BC, to a number of government representatives last week.

The paper was “generally supported” by both the Liberal and NDP representatives at the meeting, according to Samantha Gale, executive director of the Canadian Mortgage Brokers Association.

“David Eby said the NDP would scrap the BC HOME Partnership program which gives a no interest, payment free second mortgage to first time home buyers, as he believes this program creates demand for housing and the government should instead be focussed on helping to create housing supply,” Gale said in an email to MortgageBrokerNews.ca. “He said, instead his party would focus on giving money to renters – their policy is to give tenants $400 per year.

“The representative for the Green party would increase the foreign buyer’s tax to 30%, and eliminate property transfer tax for BC residents if the property was under one million dollars.”

CMBA-BC joined a number of real estate associations – including the Real Estate Board of Greater Vancouver, Fraser Valley Real Estate Board, BC Real Estate Association, Real Estate Institute of BC, Greater Vancouver Home Builders' Association, Canadian Home Builders' Association -Fraser Valley, Canadian Home Builders' Association - BC, Urban Development Institute - Pacific Region, and Landlord BC – in hosting a housing and mortgage forum with representatives from BC sitting political parties.

“The CMBA-BC organized the forum to give members of the mortgage industry an opportunity to address mortgage and housing issues to the candidates and to assist them in deciding how they will cast their vote in the coming provincial election,” Gale said.

Government representatives at the forum were Liberal Rich Coleman, Minister of Housing, NDPB housing critic David Eby, and David Young from the Green Party.

Housing issues have become hot button issues for government officials at both the provincial and federal levels.

The industry has been doing its best to advocate for broker and Canadian interest, with both CMBA and Mortgage Professionals Canada engaging in a number of housing-related meetings with members of all government levels.

And with elections and budgets on the horizon, it’s likely we’ll see some housing policies released in the coming weeks. Hopefully government officials heed the industry’s advice.

Just as people speak of "spring cleaning" tasks performed to freshen up a home that has been shuttered up all winter, so lawns and the rest of your landscaping need some TLC at this time of year, to prepare your yard for the growing season. A spring yard cleanup checklist can be divided into five categories of related tasks, one of which truly does involve something of a cleansing: the removal of refuse (natural or otherwise) from your grass and planting beds.

The other types of tasks discussed below involve getting your yard ready for gardening:

• Preparing flower beds
• Planting
• Pest control
• Weed control
• Plant care 

A thorough spring yard cleanup readies your lawn and landscaping for summer, but it can accomplish more than just that. In some cases, it will save you from headaches farther down the road.

Spring Yard Cleanup With Rake, Trash Bags and Scissors

In this first category of spring yard cleanup tasks, you will be picking up after Old Man Winter and any other slovenly bad neighbors you may have to put up with. Roll up your sleeves and start removing:

• Litter and dog feces
• Dead grass, leaves, pinecones, etc. on lawns
• Dead leaves and stalks on perennials

Unfortunately, many neighborhoods contain at least a few thoughtless individuals who insist on being litterbugs. One of the first spring cleanup tasks to tackle is removing the litter they've deposited in the yard over the course of the winter, the sight of which tends to put a damper on even the most pristine April day.

Don some heavy work gloves for this task, as it may involve removing broken glass.

Another unpleasant task in spring yard cleanup is dog waste disposal. It's especially unpleasant when you have to clean up after someone else's dog. There's not much you can do to stop litter, but there is something you can do to help keep other people's dogs from defecating on your property: Begin researching dog repellents.

You don't want to be out there all summer long with a pooper-scooper, do you? And no, don't compost dog feces, for the same reason you shouldn't try to compost cat poop: Carnivore feces contain pathogens, the removal of which through the composting process is best left to experts.

With the less wholesome aspects of spring cleanup out of the way, let's move on to lawn care. If you raked leaves thoroughly in the fall, you've aided your chances of avoiding the fungal disease known as "snow mold." But, inevitably, there will still be some stray leaves to rake come March. That's all right, because even without leaves you would want to break out the rake as part of your spring cleaning work on the lawn. Why? Because a deep raking will also help control thatch build-up.

While you're raking the lawn, you'll also want to remove pinecones or any other instances of "nature's refuse." Pinecones don't break down particularly easy in a compost bin, unless they are first shredded. Some people use pinecones in craft projects, such as making kissing balls, but, for the rest of us, they're just a nuisance.

Spring cleanup in the perennial bed begins with removing any dead leaves and stalks from perennials and ornamental grasses that you didn't remove in fall.

Scissors often work better than pruners for this task (you can get into tight spaces easier with them). For more on spring cleanup in perennial beds, see below.

Spring cleaning outdoors can be tackled in a much more joyous state of mind if you dangle a carrot in front of your nose the whole time. By "carrot" we are talking here about the reward with which tidying up outside culminates: planting and transplanting. But first things first. Let's take a look at preparing beds, before getting to planting and prevention issues.

Preparing Planting Beds and Fertilizing

In established perennial beds that performed well the prior year, working in some additional compost around your plants to fertilize them is the best thing you can do (beyond the tasks already discussed). Also remove weed plants as you encounter them (plus old, dead growth you didn't remove in the fall) -- no sense in letting them get ahead of you.

While on the subject of compost, note that it's not just for planting beds. Most all of your plants (including the grass in your lawn and your trees and shrubs) will enjoy a feeding of compost in the spring (later in the year, too, for that matter). The great thing about using compost as a fertilizer is that you never have to worry about burning plants with it. Compost is nature's slow-release fertilizer.

If you must use chemical fertilizers, always be careful to follow the application directions, because chemical fertilizers will burn plants when used in excess. The one chemical fertilizer that really is convenient (at least in theory) is the "Weed and Feed" type that contains a preemergent herbicide to prevent crabgrass (see below).

To open up brand new planting beds, you have a few options, including:

• Using a tiller to break new ground.
• Killing grass using a smothering method, to convert lawn space into a planting bed.
• Building raised beds.

In particularly rough areas, you may wish to consider soil solarization.

If you've just opened up a planting bed by breaking new ground, you can be sure that weeds will find it quickly ("Nature abhors a vacuum," as the maxim says). That's why, in some situations, it's smart to lay a landscape fabric over the ground, and cover it with a layer of mulch (the mulch protects the landscape fabric from harmful UV rays). Many don't like landscape fabric in vegetable planting beds, where gardeners like to be able to reach down, scoop up a handful of soil, and admire its fertility up-close and personal; go with just a straight mulching here (straw is a favorite), if you feel the same way. But in a shrub planting bed, these weed barriers are a great ally in helping you achieve a low-maintenance yard.

Planting in Your Prepared Flower Beds

Now for the "good part": Let's get planting!

Early spring is a good time to install trees and shrubs and to plant perennial flower borders, as long as they're hardy perennials. For annuals and tender perennials, wait till the last frost date has passed for your region (in New England, U.S., this was traditionally late May, when Memorial Day decorations are set out).

In the North, you can also start new lawns in spring or overseed a lawn that you already have. However, if you will be applying a preemergent herbicide in spring to control crabgrass (see below) in an existing lawn, it may be better to overseed in the fall.

Prevention: Crabgrass, Garden Pests

Sometimes it's easier to fight weeds before they even emerge, rather than waiting till they rear their ugly heads. The use of landscape fabric and mulch was mentioned above in the context of garden beds, but you can't use either of those on a lawn. That's where preemergent herbicides come into play, particularly for crabgrass control. Spring is the time to use a preemergent herbicide on crabgrass, and timing is of the essence. Crabgrass seed germinates when soil temperature reaches 55-60 degrees Fahrenheit. You need to apply the preemergent herbicide prior to this juncture. But who wants to keep sticking a thermometer in the ground to see if it's time yet, right? There's a more convenient method, used by the old-timers, and it involves keeping tabs on the flowering shrubs in your area. According to this method, just apply the preemergent herbicide sometime between the time the forsythias stop blooming and the lilacs begin blooming.

Garden pests pose another challenge that can best be addressed by taking preventive measures, in many cases. Many gardens need to be protected with rabbit-proof fences or deer fencing. In regions plagued by deer, it's a smart idea to plant deer-resistant plants where fencing isn't an option. An even greater number of gardeners are well advised to look into growing rabbit-proof flowers.

When Is the Best Time to Prune Shrubs?

Many readers ask, "When is the best time to prune shrubs?" There are different reasons to remove wood from shrubs. If we're talking about old, dead wood or wood recently damaged by winterkill, then the question is quite different in nature from when we're discussing healthy wood.

Yes, trees and shrubs can often profit from a bit of spring cleaning, too. Dead limbs and winterkill on branches should be pruned off. This is the easy part of pruning: Remember, you can't go wrong pruning off something that's already dead. And life and death are "color coded" on trees and shrubs, just beneath their bark, with brown signaling death, green life. The key is determining where the brown ends and the green begins, which you can learn more about in this piece on what to do about dead limbs on a magnolia.

But when is the best time to prune shrubs, in terms of healthy wood? Here, the question is different, because you can go wrong with your timing. And while dead branches should always be removed, the necessity of pruning off live branches is often determined by one's eye for beauty on a small shrub (to give it a more aesthetically pleasing shape).

The best time to prune shrubs in order to shape them varies from shrub to shrub, so let's begin with the broadest groupings of shrubs and work our way down to the shrubs that we should prune in early spring (if, in fact, our eye for beauty tells us they need pruning at all):

• Best time to prune evergreen shrubs
• Best time to prune flowering shrubs

The question of the best time to prune flowering shrubs is the one that causes people more trepidation every spring, since improper pruning will result in the loss of the blossoming displays to which we so look forward all winter long. To simplify, think of it this way:

1. Shrubs that bloom in spring have to have their buds already in place, on old wood (last year's growth), so that they're ready to kick into action when the warm weather comes; if you prune these branches off, you lose the flowers.
2. But shrubs that bloom later in the year don't need that head start, blooming instead on new wood (growth produced in the current season).

Group 1 above includes flowering shrubs such as:

• Forsythia
• Korean spice viburnum
• Lilacs

Wait to prune such shrubs until after they have finished blooming.

Group 2 above includes flowering shrubs such as:

• Butterfly bush
• Rose of Sharon
• Lavender
• Bluebeard
• Beautyberry

You can go ahead and prune such shrubs in late winter or early spring, if you wish, without fear of losing blooms.

Plant Care in Spring: What About the Mulch Covering Perennials?

Regarding any deep layer of mulch you may have had covering your perennials during the winter, it is a good idea to monitor the situation to determine when to pull it away, so that the perennials can come through unhindered. An exact date cannot be provided for when to remove the mulch protecting your perennials: You have to play it by ear, and when exactly you remove such mulch will, obviously, vary according to where you live. But if you've applied a deep layer of mulch, it will eventually need to be scraped away from the ground immediately under which your perennials lie, as otherwise it may smother the perennials. The best approach, once the ground is starting to thaw, is to begin checking, in late winter or early spring, to see whether your perennials are pushing up. If they are, remove the mulch when it's warm out but replace it when the cold returns (until the cold stops returning altogether).

Plant Care in Spring: Dividing Perennials

Finally, some perennials can profit at times from being divided. Most perennials can be divided in spring, but there are some noteworthy exceptions. For examples, you'll want to consult the full article on dividing perennials.

There are two camps firmly entrenched on the banks of the Lower Mainland. One group argues that from an historical perspective, real estate always goes up. These people are convinced this trend will continue, despite signs of froth from record-breaking sales over the last decade. Another camp is convinced that the B.C. marketplace is being propped up by nothing but pure speculation. They figure a crash is imminent.

Meanwhile, anyone buying or selling is caught in the middle. While 2016 saw some historically high sale prices across the Lower Mainland, it was also the year that some of the market’s hot air started to slowly leak out.
Various real estate boards reported fewer listings and, subsequently, a drop in sales. Worse: certain areas in Lotusland began to see price drops, some areas (when you factor in all types of real estate like condos and townhomes) have fallen as much as 20%. Yet, the market keeps going. Buyer demand combined with low inventory keeps the pressure on sale prices, while large and small developers scramble to buy anything on solid ground.

What’s a buyer to do? The best way is to buy based on solid fundamentals. In real estate this means finding good-value neighbourhoods that offer a good chance of continued momentum in the future. That’s not easy in a hot market, but this year’s Where to Buy Vancouver list shows it is possible.

But this also means that potential buyers can now find deals in some of Vancouver’s most expensive neighbourhoods—as long as you don’t mind an average home price that creeps up to the $2.8 million mark.

Great schools, amazing amenities and views that are worth buying, that’s what keeps buyers interested in West and North Vancouver. For those who don’t want to negotiate bridge traffic, Port Moody’s continued investment in development—and the completion of its Skytrain stop—has turned this area into a high-value neighbourhood that offers a balance between lifestyle, commuter distance, and house size.

Just keep in mind that in the Lower Mainland, value isn’t a synonym for cheap.

Scroll down to see the top 25 neighbourhoods across all of the Greater Vancouver Regional District (GVRD) ranked. Also find separate rankings based on Central Vancouver, North Shore and South Fraser neighbourhoods.

Greater Vancouver Regional District at a glance…

Where to buy Vancouver real estate

Vancouver Buyers Market Vs Sellers Market

First-Time Buyer Market (FTBM) are the age people are most likely to buy a home, highlighted in purple. Sellers Market (SM) is the age people are most likely to sell their home, highlighted in blue.

Vancouver’s Buyers Market

The First-time buyer market (FTBM) is in purple. This is the age group of people who are most likely to buy their first home, and plays an important part in the market. Without these buyers, middle-aged homeowners won’t have upward mobility, and they won’t be freeing up starter homes. Not everyone in this group will be able to buy, but it gives you an idea of the size of market.

Looking at projections provided by the BC government, the numbers are kind of mixed. In 2016, this pool is 185,937 people. By 2029 this will grow 1.29% to 188,341 people. Not large growth, but any growth is better than none. By 2041, this group falls 11.14% to 167,356 people – not a good sign. 2041 seems like it’s far away, but this is when 2016’s buyers will be making the last of their mortgage payments.

To contrast, the City of Toronto will grow 15%, and 5.6% respectively, over the same periods of time.

Vancouver’s Sellers Market

The sellers market (SM) is in blue. This is the largest group of sellers, and people most likely to exit the market in one way or another. People in this age group are likely to retire to the ‘burbs, move in with their adult kids or assisted care, or go to that farm your dog went to when you were 5 years old. This is another important part of market mechanics.

The population growth in this segment is much stronger. In 2016, we have 97,713 people in the group. The population estimates are predicting this number will soar 45% to 142,280 people. By 2041 we see that number increase another 20%, to 170,900 people. Sure the population continues to grow, but without comparing it to another demographic you can’t really make any predictions.

Net Flow Of Vancouver Real Estate Buyers

Now this is the important part, how do these number balance in relation to each other. You could have guessed there’s more people that want to buy than sell right now. In 2016, the segment of people aged for first time buys is 88,224 people larger than the selling segment. In 2029 it declines by 47.8%, leaving 46,061 more potential buyers than sellers. By 2041 that number declines a massive 107% to negative 3,544 people. This means the sellers group will likely be a lot larger than the buying group. This is important because typically more sellers than buyers leads to a buyers market (i.e. lower prices).

VANCOUVER — Home sales in Metro Vancouver are bouncing back after a dismal February, but the Real Estate Board of Greater Vancouver says transactions are still almost 31 per cent below the March 2016 record.

The board says a shortage of property listings and strong demand, especially for condos and townhomes, propelled the market in March.

Board president Jill Oudil says sellers still seem reluctant to put their homes on the market, creating stiff competition for homebuyers.

The numbers of new listings haven't been this low since March 2009.

Oudil says the competition also means home prices are likely to continue to increase until we see more housing supply coming on the market.

The composite benchmark price in March for all residential properties in Metro Vancouver is over $919,000, a 1.4 per cent increase compared with February.

- See more at: http://www.timescolonist.com/fewer-listings-strong-demand-helps-vancouver-area-real-estate-rally-1.14055096#sthash.6Bnhlk2W.dpuf

With the 2017 Discovery Pass, you will have unlimited opportunities to enjoy national parks, national marine conservation areas and national historic sites across the country!

• You only need one pass for your group or family if you are travelling together. The 2017 Discovery Pass is valid for any group of visitors entering a national marine conservation area or historic site together or arriving in the same vehicle at a national park.
• If you are travelling within eight weeks, we recommend that you obtain your Discovery Pass upon arrival or pick it up in person at one of these locations.
• The Discovery Pass ensures free entry only to places managed by Parks Canada. It does not apply to provincial, municipal or private parks, nor to the many historic sites not managed by Parks Canada. Please refer to the complete list of Parks Canada places when planning your visit to take full advantage of the Discovery Pass.
• The Discovery Pass may not cover activities such as guided tours, parking, and other programs and services.
• Camping, backcountry overnight use, and accommodation fees are not included with the Discovery Pass.
• Validity period: January 1, 2017 to December 31, 2017.
• Display: The 2017 Discovery Pass must be hung from the rearview mirror of the vehicle facing forward, or placed on the front driver side dashboard facing up.

If you have questions regarding the above information, please contact our National Information Service at 1-888-773-8888 or information@pc.gc.ca.

For the first time in almost three years, overall housing affordability actually improved—a little—in 2016’s fourth quarter, but this was not the case for the condominium market. 

According to RBC’s Housing Trends and Affordabilityreport released March 30, it was more difficult to afford a condo in the Vancouver area in Q4 than it was a year—or even a quarter—ago. The affordability measure was 46.1% in Q4, which means it took 46.1% of the median household income to cover the cost of owning a condo at market price in the region. This is up 0.2 percentage points compared with Q3 and an increase of 4.8 percentage points year-over-year.

In its report, RBC said this was the seventh consecutive quarterly increase for this measure.

For single-detached homes, affordability eased in the quarter, falling 6.6 percentage points. Year-over-year, however, it represents a 14 percentage-point increase. The city still remains the most expensive in the country by far, with the measure sitting at a staggering 121%, which means the cost of owning a house exceeds what the average family makes. It is also more than double the national average of 49.2%. The second least affordable city was Toronto, with a measure of 77.6%  – up 10.3 percentage points year-over-year. 

For all home types, the aggregate measure was 84.8%, which was a quarterly decrease of 5.2 percentage points but a year-over-year jump of 7.1%.

RBC said affordability measures assume a 25% down payment and a 25-year mortgage on a five-year fixed rate. It uses current home prices as compiled by Brookfield RPS.