
Average home price growth in Canada outpaces affordability
Home prices have more than doubled wage growth in Canada over the last 25 years, highlighting how housing has become unaffordable across much of the country, a new report has concluded.
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Desjardins Economic Studies published a study in May finding average home prices since 2000 have 'ballooned' by more than four times whereas household disposable income has only increased a little more than two times.
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Desjardins further noted that first-time buyers face a steep hill to ownership, especially given they are also paying historically high rent across many Canadian markets.
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The report pointed to the Desjardins Affordability Index being at historical lows for affordability even as mortgage rates have eased and home prices have fallen in Canada's most expensive markets like the Greater Toronto Area.
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Affordability hit bottomed out coming out of the pandemic as interest rates soared from near historical lows to about seven per cent for five-year fixed mortgages by fall 2023, but the report noted Canadian households remain under pressure — made worse by Canada-United States trade anxieties.
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Desjardins added that home price pain is not merely an outcome of lower interest rates during the pandemic and recently high migration to Canada. Prices have accelerated gradually over the last 25 years — though more so as a result of the pandemic.
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Assuming a household could save 20 per cent of disposable income, earning three per cent per year on money saved, it would take six years to have a down payment for the average home in Canada, about $700,000.
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Given the economic uncertainty, stirred largely by U.S. policy, affordability is unlikely to improve soon, it added.
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Windfall Mining Group inc. reaches a new milestone in its development in Quebec Français
MONTREAL, July 27, 2025 /CNW/ - Windfall Mining Group inc. (WMG), Canadian subsidiary of the global gold group Gold Fields Limited, announces today a series of key developments to support the advancement of the Windfall project and to strengthen its sustainable presence in Quebec. Set to become Canada's next major mining complex, the Windfall Project is located in the Eeyou Istchee James Bay territory in Québec, 115 km east of Lebel-sur-Quévillon. Second Series of Responses to COMEX and Update of Key Studies for the Advancement of the Windfall Project WMG confirms the continuation of the environmental assessment process through the submission of the second series of responses to COMEX questions. This revision reflects the company's ESG performance standards, adapted to Canadian and Quebec regulatory requirements. "WMG remains committed to developing a low-carbon operation, including through its partnership with the Cree First Nation, positioning Windfall among the lowest carbon-intensity gold projects globally", said Mike Fraser, CEO of Gold Fields. "The update of our environmental impact assessment study with the submission of this second series of responses to COMEX demonstrates our commitment to advancing the Windfall project in accordance with the best practice environmental, social, and regulatory standards." added Andréanne Boisvert, Vice President, Environment and Community Relations. Visual Identity: The Lynx Gives Way to the Lion Following the full acquisition of the Windfall project in 2024, WMG is adopting the corporate group's visual identity. The company's transitional logo is being replaced by that of Gold Fields, marking the integration of the project into the global Gold Fields family, which operates across four continents. "This change reflects Gold Fields' long-term commitment to Canada and its intention to establish a sustainable strategic presence in Québec—one of the world's most respected mining jurisdictions—and across Canada", concluded Fraser. Strategic Appointment to Propel the Windfall Project GMW is also proud to announce the appointment of Sylvain Lessard as General Manager. A mining engineer by training, Mr. Lessard brings over 30 years of experience managing complex projects in Quebec, in Canada and internationally, particularly in the underground mining sector. Having assumed the role on June 16, 2025, Mr. Lessard brings a wealth of experience to lead operations at the site. About Gold Fields Gold Fields is a globally diversified gold producer with nine operating mines in Australia, Chile, Ghana, South Africa and Peru, and one project in Canada. Its Australian assets span the world-renowned Goldfields mining region and employ more than 3,700 people in Western Australia. Our purpose is to create enduring value beyond mining by delivering positive and sustainable value for our employees, communities, and business partners. Our shares are listed on the Johannesburg Stock Exchange (JSE) and our American depositary shares trade on the New York Exchange (NYSE). Forward-looking statement This announcement contains forward-looking statements. All statements other than statements of historical fact included in this announcement may be forward-looking statements. Forward-looking statements may be identified by the use of words such as "aim", "anticipate", "will", "would", "expect", "may", "could", "believe", "target", "estimate", "project" and words of similar meaning. These forward-looking statements, including among others, those relating to Gold Fields' future business strategy, development activities (including the permitting, development and operations of the Windfall project) and other initiatives, business prospects, financial positions, production and operational guidance are necessary estimates reflecting the best judgement of the senior management of Gold Fields and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances and should be considered in light of various important factors, including those set forth 3 in Gold Fields' Integrated Annual Report 2023 filed with the Johannesburg Stock Exchange and annual report on Form 20-F filed with the United States Securities and Exchange Commission (SEC) on 28 March 2024 (SEC File no. 001-31318). Readers are cautioned not to place undue reliance on such statements. These forward-looking statements speak only as of the date they are made. Gold Fields undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this announcement or to reflect the occurrence of unanticipated events. These forward-looking statements have not been reviewed or reported on by the Company's external auditors