About a third of Canadian homes are owned by investors
The figures are from the Canadian Housing Statistics Program and also show that despite the challenges of making the first move on the housing ladder, the number of first-time home buyers actually increased from 2018-2019.
Although the report states that buying multiple properties increases competition in the markets, it suggests that the overall impact on the affordability of the housing market includes other factors that are not included in this report’s evaluation.
A recent survey by the Ontario Real Estate Association found that young adults in the province were often relying on their parents to help them buy homes.
most your two
A previous 2019 Statistics Canada revealed that the majority of multi-property owners own two homes, with the majority living in Toronto and Vancouver.
These owners live in single-detached households, with an average age of about 56 or 57, and an equal division between males and females.