3 April 2018

There are two main difficulties homebuyers face today: finding the right property (32%) and determining their financial possibilities (21%). It all starts with online searches. According to the report, buyers spend about five weeks looking for the right home online. One in 10 millennials say they would buy a home even without seeing it personally.

In comparison to 2017, more millennials consider a home purchase to be a good variant of investment  – 84% said it’s a “very good or good investment” (while it was 79% last year). In addition to it, millennials also worry less about employment (36% vs. 47% in 2017) and feel less uncertainty about the economy (19% vs. 28%). This age category shows a higher possibility (11%) of purchasing a property during the next two years.

The report says 61% of Canadians feel very or somewhat concerned about interest rate hikes, which is almost 10% higher than a year ago. As a result, 35% consider buying a property sooner because of today’s low rates, and 32% plan the same in order to hurry before further rate increases.