2018 Modern Family Home Ownership Trends
November 9, 2018
A new report by Mustel Group & Sotheby’s International Realty Canada reveals the impact of rising housing costs on young families across the country’s major metropolitan real estate markets, highlighting the significant contrast between the home ownership aspirations & realities of this demographic.
The first in a multi-part series focused on the home ownership trends of young urban families, the report is based on findings from a survey of 1,743 families in the Vancouver, Calgary, Toronto and Montreal Census Metropolitan areas, with a focus on those between the ages of 20 and 45.
Despite challenges in affordability and compromises made in home ownership, survey results revealed that levels of satisfaction, as well as confidence in the real estate market is high. While 82% of young families feel they have made compromises in the home they purchased, 93% are “very” or “somewhat satisfied” with their home. 78% of young, urban Canadian families believe their home will either outperform or match the performance of their financial investments in the next five years, with 48% stating that real estate will outperform financial investments.
The full report is available to read here.