Regina ranked the 2nd most affordable Canadian city for first time homeowners: study
Regina was ranked the second most affordable city for first time homeowners, according to a study conducted by real estate firm Edmonton Homes.
The research compared and ranked the 25 most populated cities in Canada, only St, John’s, N.L. was ranked higher than Regina.
The study compared the percentage of average annual income spent on house prices, property tax and electricity bills.
According to Edmonton Homes, 2.04 per cent of Regina’s $106,340 median salary is spent on electricity bills. The average wage equates to 37.40 per cent of the average house price, the firm said.
The average price of a home in Regina is $284,334, according to Edmonton Homes.
“Tax on properties costing around $500,000 will take 5.05 per cent of homeowners’ median salary,” the firm said.
After comparing salary percentage spent on average housing fees, the percentage of salary spent on property tax for homes that were worth $500,000, and the percentage of salary spent on energy, Regina received a score of 58.8 in the study.
The firm ranked Saskatoon as the third most affordable city in Canada for first time homeowners with a score of 56.1.
Other cities in the top 10 included Edmonton, Winnipeg and Calgary.
CTVNews.ca Top Stories
Grandparent scam: London, Ont., senior beats fraudsters not once, but twice
It was a typical Tuesday for Mabel Beharrell, 84, until she got the call that would turn her world upside down. Her teenaged grandson was in trouble and needed her help.
Deaths of 4 people on Sask. farm confirmed as murder-suicide
The deaths of four people on a farm near the Saskatchewan village of Neudorf have been confirmed a murder-suicide.
Full parole granted to man convicted in notorious 'McDonald's murders' in Cape Breton
The Parole Board of Canada has granted full parole to one of three men convicted in the brutal murders of three McDonald's restaurant workers in Cape Breton more than 30 years ago.
CRA no longer requiring 'bare trust' reporting in 2023 tax return
The Canada Revenue Agency announced Thursday it will not require 'bare trust' reporting from Canadians that it introduced for the 2024 tax season, just four days before the April 2 deadline.
Sunshine list: These were the Ontario public sector's highest earners in 2023
Ontario released its annual sunshine list Thursday afternoon, noting that the largest year-over-year increases were in hospitals, municipalities, and post-secondary sectors.
George Washington family secrets revealed by DNA from unmarked 19th century graves
Genetic analysis has shed light on a long-standing mystery surrounding the fates of U.S. President George Washington's younger brother Samuel and his kin.
Why some Christians are angry about Trump's 'God Bless the USA' Bible
Former U.S. President Donald Trump is officially selling a copy of the Bible themed to Lee Greenwood’s famous song, 'God Bless the USA.' But the concept of a Bible covered in the American flag has raised concern among religious circles.
Rainfall warnings of up to 80 mm among weather alerts in effect for 6 provinces
Rainfall warnings of up to 90 millimetres and other alerts have been issued for six Canadian provinces, according to the latest forecasts.
Bus plunges off a bridge in South Africa, killing 45 people. An 8-year-old child is only survivor
A bus carrying worshippers headed to an Easter festival plunged off a bridge on a mountain pass and burst into flames in South Africa on Thursday, killing at least 45 people, authorities said.