14 May 2019 First-Time Home Buyer Insights
A new release by Genworth Canada in collaboration with Royal LePage was published and distributed to media providing insights on Canadian first-time home buyers. The survey gathers data collected by Environics Research from first-time home buyers aged 25-40 who bought their first home within the last two years. Below are highlights from the release:
Key findings from the report include:
- Provincial and regional data on first-time home buyers’ preference to buy a property closer to work rather than one that provides more square footage with a longer commute.
- Insights into the level of anxiety among first-time home buyers regarding their ability to gather sufficient down payment for a property they want.
- Information about the proportion of first-time home buyers who lived with family or relatives prior to buying their first home (17% nationally)