News Feed Item

Next to Detached Homes, Condos Most Popular Real Estate Choice With Ontarians

New Index by Ontario Real Estate Association Reveals Ontarians' Perceptions on Residential Real Estate

TORONTO, ONTARIO -- (Marketwired) -- 07/10/14 -- A quarter of Ontarians (28%) planning to buy a home in the next two years say they plan to purchase a condo/apartment, with the majority (59%) saying they will buy a detached house, according to new research from the Ontario Real Estate Association (OREA). Released today, The Ontario Home Ownership Index, a semi-annual province-wide research study commissioned by OREA and conducted by Ipsos Reid, reflects on Ontarians' outlook of the residential real estate market, their real estate plans and market trends.

"Interestingly, Torontonians led the charge in the condo category, with 41% saying they plan to purchase a condo/apartment," says Costa Poulopoulos, president, OREA. "In comparison, only 23% of all other Ontarians have similar plans, underscoring Toronto's unique condo market. Ontarians are confirming that no two real estate markets are the same, despite their proximity. Understanding local market conditions is important for home buyers and sellers as they prepare to purchase or list a home - consulting with a local Realtor who specializes in a particular market is a great way to get in-the-know."

Taking a broader look at the province, Ontarians expressed positive perceptions of the current residential real estate market. A majority (57%) believe it is 'favourable', compared to only 20% who say it is 'unfavourable'. Furthermore, half of Ontarians (52%) see the overall state of Ontario's economy as 'good', compared to 29% that say it is 'bad'.

Various factors play into the home buying and selling decision which The Ontario Home Ownership Index intends to explore over time. These were some of the findings from the spring 2014 research wave:

--  10% of Ontarians say they are 'very likely' to purchase a home within
    the next two years
--  14% of Ontarians say they are 'very likely' to sell a home within the
    next two years
--  Three in ten (28%) Ontarians believe the current residential real estate
    market in their city or town is 'very favourable' and six in ten (57%)
    say it is 'favourable'
--  82% of Ontarians agree that real estate is a good investment
--  84% of Ontario residents think it makes more sense to own a home rather
    than rent over the long-term

"Consumer perceptions often reflect what is currently happening in an area but they have also been known to signal the next movement," says Sean Simpson, vice president, Ipsos Public Affairs. "There have been many 'firsts' in residential real estate over the last several years, and there has been a lot of speculation on what will happen next. These insights may offer a glimpse into what lies ahead in real estate markets throughout the province."

Market expectations and predictions

--  Compared to one year ago, a third (35%) of Ontarians say the Ontario
    real estate market is stronger while 18% say it is 'weaker'
--  A third (34%) of Ontarians say the Ontario real estate market will be
    stronger in the next year compared to 17% who say it will be 'weaker'
--  Looking ahead to the next ten years, nearly half (46%) of Ontarians see
    a stronger provincial market; 22% see a 'weaker' market

Home ownership perceptions

--  79% of Ontarians say that home ownership is important to them
--  80% of Ontarians say that owning a home gives them a sense of pride
--  Ontarians ranked long-term investment value (29%),
    affordability/availability of homes (26%) and desire to own a home of my
    own (26%) as their top three reasons for a home purchase

To read a copy of the full Ipsos Reid factum, visit http://ipsos-na.com/news-polls/pressrelease.aspx?id=6559


These are some of the findings of an Ipsos Reid poll conducted between May 20th to 23rd, 2014 on behalf of the Ontario Real Estate Association. For this survey, a sample of 1,080 Ontarians from Ipsos' Canadian online panel was interviewed online. Weighting was then employed to balance demographics to ensure that the sample's composition reflects that of the adult population according to Census data and to provide results intended to approximate the sample universe. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within +/-3.4 percentage points had all adults in Ontario been surveyed.

About The Ontario Home Ownership Index

The Ontario Home Ownership Index is designed to reflect Ontarians' overall views of the residential real estate market in Ontario, and incorporates measures such as Ontarians' perceptions of whether the market in their neighbourhood, city, and Ontario, respectively, have improved or worsened in the last year and looking ahead into the future, whether home ownership is important to them and whether it is a good investment in the long-term. The first wave of the index, conducted in the fall 2013, was set to a baseline of 100 points. A rise to 108 this spring reflects an overall improvement in sentiment of 8% in the index since the fall.

About the Ontario Real Estate Association

The Ontario Real Estate Association represents over 58,000 brokers and salespeople who are members of the 40 real estate boards throughout the province. OREA serves its REALTOR® members through a wide variety of professional publications, educational programs, advocacy, and other services. www.OREA.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, will discuss key challenges and solutions to powering a ride sharing and/or multimodal model in the a...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, will discuss the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docke...
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
SYS-CON Events announced today that Embotics, the cloud automation company, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Embotics is the cloud automation company for IT organizations and service providers that need to improve provisioning or enable self-service capabilities. With a relentless focus on delivering a premier user experience and unmatched customer support, Embotics is the fas...
SYS-CON Events announced today that Coalfire will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Coalfire is the trusted leader in cybersecurity risk management and compliance services. Coalfire integrates advisory and technical assessments and recommendations to the corporate directors, executives, boards, and IT organizations for global brands and organizations in the technology, cloud, health...
Rapid innovation, changing business landscapes, and new IT demands force businesses to make changes quickly. In the eyes of many, containers are at the brink of becoming a pervasive technology in enterprise IT to accelerate application delivery. In this presentation, you'll learn about the: The transformation of IT to a DevOps, microservices, and container-based architecture What are containers and how DevOps practices can operate in a container-based environment A demonstration of how Docke...
In his session at 19th Cloud Expo, Claude Remillard, Principal Program Manager in Developer Division at Microsoft, will contrast how his team used config as code and immutable patterns for continuous delivery of microservices and apps to the cloud. He will show the immutable patterns helps developers do away with most of the complexity of config as code-enabling scenarios such as rollback, zero downtime upgrades with far greater simplicity. He will also have live demos of building immutable pipe...
Cloud based infrastructure deployment is becoming more and more appealing to customers, from Fortune 500 companies to SMEs due to its pay-as-you-go model. Enterprise storage vendors are able to reach out to these customers by integrating in cloud based deployments; this needs adaptability and interoperability of the products confirming to cloud standards such as OpenStack, CloudStack, or Azure. As compared to off the shelf commodity storage, enterprise storages by its reliability, high-availabil...
The IoT industry is now at a crossroads, between the fast-paced innovation of technologies and the pending mass adoption by global enterprises. The complexity of combining rapidly evolving technologies and the need to establish practices for market acceleration pose a strong challenge to global enterprises as well as IoT vendors. In his session at @ThingsExpo, Clark Smith, senior product manager for Numerex, will discuss how Numerex, as an experienced, established IoT provider, has embraced a ...
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
SYS-CON Events announced today that MathFreeOn will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MathFreeOn is Software as a Service (SaaS) used in Engineering and Math education. Write scripts and solve math problems online. MathFreeOn provides online courses for beginners or amateurs who have difficulties in writing scripts. In accordance with various mathematical topics, there are more tha...
SYS-CON Events announced today that Cemware will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Use MATLAB functions by just visiting website mathfreeon.com. MATLAB compatible, freely usable, online platform services. As of October 2016, 80,000 users from 180 countries are enjoying our platform service.
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...