The Royal LePage Millennial Demographic Survey includes insights into the trends and preferences of Canadian millennials as they pertain to home ownership, affordability and remote work. The report provides national, provincial and city-level survey results (including Toronto, Montreal, Vancouver, Calgary and Ottawa).
Key highlights from the release include:
- 60% of Canadian millennials who do not currently own a home believe they will one day, however, 52% of them say they would have to relocate in order to achieve this milestone
- 72% of millennials in Canada would choose to continue living in their current city or town, if the cost of living was not an issue
- 40% of millennials in Canada say they would change employers to be able to work fully remotely; top motivators include the cost and time associated with commuting
- 68% of non-homeowner millennials in Canada say that owning a home is important to them
- Nationally, more than 4 million millennials (51%) say they plan to purchase a home within the next five years
- Royal LePage urges policy makers to remain focused on efforts to increase supply of housing in Canada, despite cooling market