Survey: More than eight in ten Canadians concerned home ownership is increasingly unattainable, as federal election edges closer
Highlights:
- 84% of respondents are concerned that, with rising home prices, an increasing number of Canadians will never be homeowners; that number is even higher among those who say a candidate’s position on housing affordability will influence their vote (96%)
- 57% of Canadians aged 18-34 say a candidate’s position on tackling housing affordability will influence their vote in the upcoming federal election (40% overall)
- 47% of Canadians with children in their household say a candidate’s position on tackling housing affordability will influence their vote, compared to 38% of those without children in the home
- Royal LePage applauds political leaders’ commitment to address Canada’s housing supply crisis
TORONTO, August 31, 2021 – Canadians are concerned about rising home prices and are looking to election candidates for a solution, according to a recent Royal LePage survey[1] of more than 1,500 Canadians from coast to coast. While young people (aged 18-34) are making housing affordability an election priority, the survey found that Canadians of all ages, incomes, homeownership status, and household composition – regardless of region – are similarly concerned that rising home prices will lead to an increasing number of people in the country never becoming homeowners (84%). Among Canadians aged 18 to 34, this figure rises to 88 per cent.
When asked if a candidate’s position on tackling the current housing crisis will influence their vote in the September 20th federal election, 40 per cent of respondents nationwide answered yes (18% answered ‘I don’t know’, 41% answered ‘No’). This figure increases to 57 per cent among Canadians aged 18 to 34, the highest of all age groups.
“Access to housing is a fundamental human right, for without adequate shelter, a family lacks the foundation upon which they can live and work safely and with dignity,” said Phil Soper, president and CEO, Royal LePage. “In this election, Canadians are demanding ideas, answers and a commitment to address the nation’s housing supply and affordability crisis. The growing housing deficiency in this country is one of the great threats to our prosperity as a people.”
All three major federal parties have released their housing strategies, each aimed at addressing nationwide supply shortages in an effort to slow rising home prices. A recent Scotiabank report[2] found that Canada has the lowest number of housing units per capita of any G7 country. To match the average of other G7 nations, Canada would need to build 1.8 million homes, according to the report.
“The 2021 federal election has seen housing policy become a headline priority and key leadership promise in all major party platforms. Royal LePage is encouraged to see that addressing housing shortages is a top priority, a sign that concerned Canadians are being heard,” said Soper. “While tax and grant programs can benefit new buyers in small ways, only by addressing the supply shortage will we get at the root cause of this crisis. Housing affordability impacts everyone, and it’s clear that Canadians are ready to make their voices heard.”
Royal LePage 2021 Federal Election Survey Chart: rlp.ca/table_2021electionsurvey
Other statistics and Resources:
- According to Royal LePage & Sagen’s 2021 Canadian First-time Homebuyer Survey, 75% of first-time homebuyers in Toronto and 69% in Vancouver reported feeling worried that they would not have a large enough down payment to purchase a home.
- According to the Royal LePage 2021 Boomer Survey, 27% of working boomers in Canada say they would consider delaying their retirement to help a child financially with the purchase of a home.
- Read more about Solving Canada’s Housing Affordability Crisis on the Royal Lepage Blog.
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About Royal LePage
Serving Canadians since 1913, Royal LePage is the country’s leading provider of services to real estate brokerages, with a network of over 18,000 real estate professionals in over 600 locations nationwide. Royal LePage is the only Canadian real estate company to have its own charitable foundation, the Royal LePage Shelter Foundation, dedicated to supporting women’s and children’s shelters and educational programs aimed at ending domestic violence. Royal LePage is a Bridgemarq Real Estate Services Inc. company, a TSX-listed corporation trading under the symbol TSX:BRE. For more information, please visit www.royallepage.ca.
About the Leger Survey
An online survey of 1527 Canadians was completed between August 20, 2021, and August 22, 2021, using Leger’s online panel. No margin of error can be associated with a non-probability sample (i.e. a web panel in this case). For comparative purposes, though, a probability sample of 1527 respondents would have a margin of error of ±2.5%, 19 times out of 20.
For further information, please contact:
Meghan Edwards
North Strategic on behalf of Royal LePage
meghan.edwards@northstrategic.com
(416) 300-5720
[1] An online survey of 1527 Canadians was completed between August 20, 2021, and August 22, 2021, using Leger’s online panel. No margin of error can be associated with a non-probability sample (i.e. a web panel in this case). For comparative purposes, though, a probability sample of 1527 respondents would have a margin of error of ±2.5%, 19 times out of 20.
[2] https://www.scotiabank.com/ca/en/about/economics/economics-publications/post.other-publications.housing.housing-note.housing-note–may-12-2021-.html
