Q2 2019 Fixed Income Investor Presentation
Canadian House Prices
.
Absolute price level is moderate compared
to major global urban centers
Average Home Price
City
CAD
USD Eq.¹
•
Canadian debt to income ratio in line with
many developed nations
Canada
495K
370K
Toronto
789K
590K
Vancouver
1008K
754K
Growth rates of house prices in Canada
have diverged across regions
Calgary
411K
307K
Montreal
361K
270K
300
250
200
150
100
50
Household Debt to Income Ratio
Household Debt to Income Ratio
III
Average
35%
30%
Canada
Toronto Vancouver -
Calgary Montreal
25%
20%
15%
10%
5%
0%
Source: CREA, April 2019
11 USD 1.3378 CAD
Housing Index Year over Year Change, by City
-10%
Dec-07 Dec 08 Dec-09 Dec-10 Dec-11 Dec 12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19
-5%
Germany
-15%
Source: Bloomberg, Teranet - National Bank House Price Index
CIBC
0
Denmark
Netherla...
Norway
Australia
Sweden
Canada
Ireland
U.K.
France
Japan
U.S.
Source: OECD, 2017 or latest available. Household debt ratios across countries can be significantly
affected by different institutional arrangements, among which tax regulations regarding tax deductibility
of interest payments.
CIBC Q2 2019 Fixed Income Investor Presentation
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