A high level of confidence remains in Canada’s housing market – particularly among those under 30, according a report from BMO.
According to the 2014 BMO Housing Confidence Report, 44 per cent of homeowners intend to buy a property in the next five years. This represents a slight drop from 2013, but still signals a high level of confidence in Canada's housing market. However, results vary widely in Canada's major city centres:
Intent to buy has surged in Montreal, with 63 per cent planning to purchase a property in the next 5 years - up 13 points from last year;
Half of those in the Greater Toronto Area (51 per cent) plan to buy in the next 5 years, a decline of 8 points from 2013;
Further west, intent to buy in Calgary is up 5 points to 54 per cent, while Vancouver is down 4 points to 54 per cent;
After seeing an increase of 15 points last year, Atlantic Canada dropped notably; intent decreased by 18 points to 29 per cent.