Greater Montreal Real Estate Board

Greater Montreal Real Estate Board

May 16, 2006 10:36 ET

Exclusive Survey by the Greater Montreal Real Estate Board: Strong Real Estate Market Continues

ILE-DES-SOEURS, QUEBEC--(CCNMatthews - May 16, 2006) - The real estate market in the Montreal metropolitan area will continue to be a strong one, according to a buyers' and sellers' survey released today by the Greater Montreal Real Estate Board (GMREB).

The telephone survey was conducted in the winter of 2006 by Le Groupe Multi-Reso Inc. with 349 Quebec consumers. To qualify, respondents had either sold a house, were considering selling one in the next five years, or were considering buying one in the next five years. The margin of error is 5.2%, 19 times out of 20.

The survey shows that 25% of respondents plan on buying a home in the next five years. Moreover, 9% are thinking of buying within the next 12 months. As a comparison, results were 21% and 8%, respectively, in 2003 and 20% and 6% in 2001.

As for selling intentions, 23% of people polled stated they are considering selling their home in the next five years, compared to 21% in 2003 and 18% in 2001.

"These results tend to show that the real estate market, which had a record year in 2005, will remain strong and stable in the next few years, which is great news for our members and for all consumers," says Michel Beausejour, FCA, Chief Executive Officer of the Greater Montreal Real Estate Board.

Buyers' and Sellers' Profile

The survey commissioned by the Greater Montreal Real Estate Board also helped to establish the profile of the buyers and sellers in the Montreal metropolitan area:



Buyers:

- 65% of buyers are couples with (37%) or without children;
- The average buyer is 40 years old; he/she has a college (47%) or
university (34%) degree;
- 43.2% of respondents say they will buy a smaller home, while
40.9% will buy a larger home;
- The proportion of respondents who plan on buying a home in the
next five years and who consult the Internet continues to grow,
reaching 83% in 2006, compared to 73% in 2003 and 61% in 2001.

Sellers:

- 53% of sellers are couples with (37%) or without children;
- The average seller is 48 years old; he/she has a college (36%) or
university (39%) degree.


About the GMREB

The Greater Montreal Real Estate Board is a non-profit organization and has more than 9,000 members, real estate brokers and agents. It is the second most important board in Canada and its mission is to actively promote and protect its members' professional and business interests in order for them to successfully meet their business objectives.

Contact Information

  • Greater Montreal Real Estate Board
    Chantal de Repentigny, Assistant Director
    Communications, Industry Relations and Legal Affairs
    (514) 762-2181, extension 130
    chantal.derepentigny@gmreb.qc.ca