new home and condo builds in oakvilleAccording the to 21st Annual RBC Home Ownership poll, nearly nine in ten young Canadians feel that owning a house or condo is a very good investment. This us up from less than eight in ten of those surveyed in 2013.

The poll released by the bank on Thursday found that the sentiment of buying was consistent across the nation.

“The increase in the number of those who feel the housing market is a good investment, as well as the number of those who intend to buy, really highlights that Canadians have no doubt in the strength of the housing market and want to participate more than they have in recent years,” said Erica Nielsen, vice-president, Home Equity Finance, RBC.

Top factors considered by those who intend to buy this year include the stability of their job situation, manageable debt and the ability to afford  a large enough down payment. Four in ten of those who indicated that they were likely to buy a home within the next two years will be first time buyers.

“The increase in buying intentions across the country gives the strong signal that there is renewed confidence in the market, but also that Canadians are more prepared this year to take that step into homeownership,” said Rachel Wihby, senior manager, Home Equity Finance, RBC. 

Categories: Home Ownership

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