Canada's housing market off-limits to first-timers

New survey shows most first-time home buyers worried they won’t make the down payment

Andrew Willis 22 May, 2019 | 2:00PM

First-time home buyers in Canada can’t make a down payment in Canada’s most populous cities, a survey found, with most respondents in Vancouver, Toronto and Vancouver feeling priced out of the market.

A survey released by Genworth Canada and Royal LePage shows that home prices have risen beyond the point of financial reality for prospective first-time home buyers.

Although aggregate home prices in Vancouver have rocketed to triple the value of homes in Montreal, respondents in Montreal (60%) were more concerned about being able to make a down payment than those in Vancouver (58%). Meanwhile, first time home buyers in Toronto are the most concerned (68%) as property values and sales volumes outpace those out West.

SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk

To view this article, become a Morningstar Basic member.

Register For Free

About Author

Andrew Willis

Andrew Willis  Andrew Willis is a content editor for Morningstar.ca.