The Ontario Real Estate Association (OREA) has released its Ontario Home Ownership Index, which found that 82 per cent of Ontario residents feel that real estate is a good investment.
According to Costa Poulopoulos, the president of the Ontario Real Estate Association, “Interestingly, Torontonians led the charge in the condo category, with 41% saying they plan to purchase a condo/apartment. In comparison, only 23% of all other Ontarians have similar plans, underscoring Toronto’s unique condo market. Ontarians are confirming that no two real estate markets are the same, despite their proximity. Understanding local market conditions is important for home buyers and sellers as they prepare to purchase or list a home – consulting with a local Realtor who specializes in a particular market in a great way to get in-the-know.”
“Consumer perceptions often reflect what is currently happening in an area, but they have also been known to signal the next moment,” said the vice president of Ipsos Public Affairs, Sean Simpson. “There have been many ‘firsts’ in residential real estate aver the last several years, and there has been a lot of speculation on what will happen next. These insights may offer a glimpse into what lies ahead in real estate markets throughout the province.”
- 84% of Ontarians think that it’s better to own a home instead of rent long-term.
- 82% of Ontarians think real estate is a good investment.
- 57% of Ontarians think that the real estate market where they live is favourable, while 28% think it is very favourable.
- 79% of Ontarians consider home ownership to be important to them.
- 80% of Ontario residents think homeownership gives them a sense of pride.