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
Pedestrian, baby injured after stroller struck and dragged by vehicle in Squamish, B.C.
Police say a baby and a pedestrian suffered non-life-threatening injuries after a vehicle struck a baby stroller and dragged it for two blocks before stopping in Squamish, B.C.
Senate expenses climbed to $7.2 million in 2023, up nearly 30%
Senators in Canada claimed $7.2 million in expenses in 2023, a nearly 30 per cent increase over the previous year.
Demonstrators kicked out of Ontario legislature for disruption after failed keffiyeh vote
A group of demonstrators were kicked out of the legislature after a second NDP motion calling for unanimous consent to reverse a ban on the keffiyeh failed to pass.
Tom Mulcair: Park littered with trash after 'pilot project' is perfect symbol of Trudeau governance
Former NDP leader Tom Mulcair says that what's happening now in a trash-littered federal park in Quebec is a perfect metaphor for how the Trudeau government runs things.
RCMP uncovers alleged plot by 2 Montreal men to illegally sell drones, equipment to Libya
The RCMP says it has uncovered a plot by two men in Montreal to sell Chinese drones and military equipment to Libya illegally.
Government agrees to US$138.7M settlement over FBI's botching of Larry Nassar assault allegations
The U.S. Justice Department announced a US$138.7 million settlement Tuesday with more than 100 people who accused the FBI of grossly mishandling allegations of sexual assault against Larry Nassar in 2015 and 2016, a critical time gap that allowed the sports doctor to continue to prey on victims before his arrest.
Man wanted in connection with deadly shooting in Toronto tops list of most wanted fugitives in Canada
A 35-year-old man wanted in connection with the murder of Toronto resident 29-year-old Sharmar Powell-Flowers nine months ago has topped the list of the BOLO program’s 25 most wanted fugitives across Canada, police announced Tuesday.
Doctors ask Liberal government to reconsider capital gains tax change
The Canadian Medical Association is asking the federal government to reconsider its proposed changes to capital gains taxation, arguing it will affect doctors' retirement savings.
Pro-Palestinian protests roiling U.S. colleges escalate with arrests, new encampments and closures
The student protests of Israel's war with Hamas that have been creating friction at U.S. universities escalated Tuesday as new encampments sprouted and some colleges encouraged students to stay home and learn online, after dozens of arrests across the country.