The cost of housing is so out-of-reach for so many Canadians that they are looking at innovative ways to get into the market. A RE/MAX survey shows that, of those looking for alternative ways, 54 per cent are Millennials and Gen Z. These include renting out a portion of a primary residence (21 per cent), pooling finances with friends or family to purchase a home (13 per cent) or living with like-minded neighbours in a co-op/shared living arrangement (seven per cent).

Five locations across Canada are noted for having some of the most affordable neighbourhoods. Two are in Saskatchewan: Washington Park in Regina and West Flat in Prince Albert.

Winnipeg and Regina are singled out as two of the more affordable markets in Canada year-over-year, with an average selling price below $350,00

Key barriers to affordability for many would-be buyers, according to the Canadian consumer survey, include a shortfall in salary (26 per cent); the fear of rising interest rates (18 per cent); the fear of being “house poor” (18 per cent); lack of steady full-time employment (16 per cent); current levels of household debt (11 per cent); and the mortgage stress test (11 per cent).