Houses in Winnipeg, MB.
Credits: Jason Halstead/Winnipeg Sun/QMI Agency
RBC's latest Housing Trends and Affordability Report found that the property market is relaxing.
RBC's affordability measures compare the average pre-tax household income needed to own a home at market values.
For detached bungalows, that number fell by 1.6% this quarter, the price of a standard two-storey home eased by 1% and condo prices fell by 0.6%.
That puts the average affordability index for Winnipeg at 38.9%, compared to 83.2% in Vancouver, 52.4% in Toronto, 38.7% in Ottawa and 31.1% in Edmonton.
"The province's affordability measures now stand slightly worse off than they have been, on average, since the mid-'80s, but they are still well below the national averages, suggesting minimal strain on Manitoban homebuyers' budgets at the moment."