Source: Connor O’Donovan, Global News, October 16, 2019
A newly released report commissioned by Royal LePage gives a glimpse into the impact immigration is having on the Canadian real estate market.
According to the report, which was derived from a survey of 1,500 “newcomers” this past August, “Canadian newcomers” are currently behind 21 per cent of all home purchases in the country, and are projected to buy 680,000 homes over the next five years if migration rates stay the same.
The national rate of homeownership among new Canadians is 32 per cent compared to 68 per cent overall.
In the Prairies, though, those rates are even higher.
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