Housing affordability is improving across Canada, including in B.C., but the Vancouver area remains the least-affordable market, according to a report from RBC, Canada’s largest bank.

The report says housing affordability is improving because of lower interest rates, flat prices and sustained household income gains.

However, while further improvement in housing affordability is expected, the speed of improvement is likely to slow as the effect of earlier interest rate cuts fade, according to the report by the bank’s assistant chief economist, Robert Hogue.

The improving picture means that a Canadian household earning the median income of $85,400 needed to spend 53.6 per cent of that to cover the costs of owning a home in the last three months of 2025, down from a peak of 63.5 per cent

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