Welcome!

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

Methodology

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
Imagine having the ability to leverage all of your current technology and to be able to compose it into one resource pool. Now imagine, as your business grows, not having to deploy a complete new appliance to scale your infrastructure. Also imagine a true multi-cloud capability that allows live migration without any modification between cloud environments regardless of whether that cloud is your private cloud or your public AWS, Azure or Google instance. Now think of a world that is not locked i...
Technology innovation is the driving force behind modern business and enterprises must respond by increasing the speed and efficiency of software delivery. The challenge is that existing enterprise applications are expensive to develop and difficult to modernize. This often results in what Gartner calls "Bimodal IT," where business struggle to apply modern tools and practices to traditional monolithic applications. But these existing assets can be modernized and made more efficient without havin...
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that Auditwerx will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Auditwerx specializes in SOC 1, SOC 2, and SOC 3 attestation services throughout the U.S. and Canada. As a division of Carr, Riggs & Ingram (CRI), one of the top 20 largest CPA firms nationally, you can expect the resources, skills, and experience of a much larger firm combined with the accessibility and attent...
SYS-CON Events announced today that Technologic Systems Inc., an embedded systems solutions company, will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Technologic Systems is an embedded systems company with headquarters in Fountain Hills, Arizona. They have been in business for 32 years, helping more than 8,000 OEM customers and building over a hundred COTS products that have never been discontinued. Technologic Systems’ pr...
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
SYS-CON Events announced today that HTBase will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. HTBase (Gartner 2016 Cool Vendor) delivers a Composable IT infrastructure solution architected for agility and increased efficiency. It turns compute, storage, and fabric into fluid pools of resources that are easily composed and re-composed to meet each application’s needs. With HTBase, companies can quickly prov...
In his session at Cloud Expo, Alan Winters, an entertainment executive/TV producer turned serial entrepreneur, will present a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to max...
What if you could build a web application that could support true web-scale traffic without having to ever provision or manage a single server? Sounds magical, and it is! In his session at 20th Cloud Expo, Chris Munns, Senior Developer Advocate for Serverless Applications at Amazon Web Services, will show how to build a serverless website that scales automatically using services like AWS Lambda, Amazon API Gateway, and Amazon S3. We will review several frameworks that can help you build serverle...
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
MongoDB Atlas leverages VPC peering for AWS, a service that allows multiple VPC networks to interact. This includes VPCs that belong to other AWS account holders. By performing cross account VPC peering, users ensure networks that host and communicate their data are secure. In his session at 20th Cloud Expo, Jay Gordon, a Developer Advocate at MongoDB, will explain how to properly architect your VPC using existing AWS tools and then peer with your MongoDB Atlas cluster. He'll discuss the secur...
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists peeled away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud enviro...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
SYS-CON Events announced today that Infranics will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Since 2000, Infranics has developed SysMaster Suite, which is required for the stable and efficient management of ICT infrastructure. The ICT management solution developed and provided by Infranics continues to add intelligence to the ICT infrastructure through the IMC (Infra Management Cycle) based on mathemat...