More Canadians hope to buy homes in 2014
April 14, 2014 By Canadian Garden Centre & Nursery
Apr. 14, 2014, Toronto — More young Canadians view home ownership as a good investment in 2014, according to Ipsos Reid's 21st Annual Home Ownership Poll.
Nearly nine in 10 young Canadians between the ages of 25 and 34 (86 per cent) believe that owning a house or condo is a very good investment. This is up from about three-quarters (78 per cent) who believed this to be true in 2013.
Likelihood to purchase has also increased in nearly every region of the country. Interest from the 25 to 34 age group has increased significantly from 25 per cent in 2013 to 41 per cent in 2014. This change in buying intention points to a new renewed confidence from young buyers who may have felt that buying wasn't an option last year.
While the majority of Canadians (62 per cent) intend to buy a home with their spouse or partner, more than one in four (28 per cent) intend to buy a home by themselves.
Some of the top factors considered by those who intend to buy this year include the stability of their job situation and manageable debt levels. Among those likely to buy a home within the next two years, four in ten will be first time homebuyers.
Ipsos Reid conducted the survey on behalf of RBC from Feb. 4 to 14. A sample of 2,591 adult Canadians was interviewed online via Ipsos’s I-Say online panel. The survey is considered accurate to within +/- 2.2 per centage points, 19 times out of 20. These data were weighted to ensure that the sample's age/sex composition reflects that of the actual Canadian population according to the latest Census information.
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