Quebec Federation of Real Estate Boards

Quebec Federation of Real Estate Boards

January 24, 2012 13:00 ET

Decrease in Home Buying and Selling Intentions in Next Five Years

ÎLE-DES-SŒURS, QUÉBEC--(Marketwire - Jan. 24, 2012) - The number of consumers who are considering buying or selling a home within the next five years has decreased compared to last year, according to a survey by Léger Marketing on behalf of the Québec Federation of Real Estate Boards (QFREB).

Decrease in Home Buying Intentions

The survey revealed that in Québec, 26 per cent of respondents said they were "very likely" or "fairly likely" to buy a home within the next five years. This is a significant drop in buying intentions compared to the survey conducted in 2010 in which 31 per cent of respondents indicated their intention to purchase a home within the next five years.

The Montréal Census Metropolitan Area (CMA) also registered a significant decrease in the number of consumers who intend to buy within the next five years. According to survey results, 30 per cent of respondents indicated they were "very likely" or "fairly likely" to purchase a home, down from 33 per cent in 2010.

The survey also revealed that consumers who are considering purchasing a home within the next five years will be buying more condominiums, will be older, more will be in a couple relationship (with or without children) and have a higher income as compared with 2010 results.

Home Selling Intentions Also Decreased

In terms of selling intentions, the same trend was observed as 23 per cent of owners of a primary residence indicated they were "very likely" or "fairly likely" to sell their home within the next five years. This was a significant drop compared to the results obtained in 2010 when 28 per cent of respondents indicated their intention to sell their home within five years.

The Montréal CMA also registered a significant decrease in selling intentions. In 2011, 25 per cent of respondents indicated their intention to sell a property whereas 29 per cent had done so in 2010.

The profile of respondents who considered selling within the next five years was similar to that of 2010 with the exception of more couples (with or without children) on the market.

Methodology

This web survey was conducted between October 24 and November 4, 2011, among a representative sample of 3,602 French - or English-speaking Québec residents, aged 18 or over. In order to be eligible, respondents had to be responsible for paying the mortgage or rent of their residence. Quotas were established according to region: 2,100 respondents came from the Greater Montréal area while 1,502 respondents came from the rest of the province. Using data from Statistics Canada, the results were weighted according to age, regions, gender, language spoken in the home, education and presence of children in the household to ensure a sample representative of the entire study population.

About the Québec Federation of Real Estate Boards

The Québec Federation of Real Estate Boards is a non-profit organization composed of Québec's twelve real estate boards as associate members as well as close to 15,000 real estate brokers as affiliated members. Its mission is to promote and protect the interests of Québec's real estate industry so that the boards and their members can successfully meet their business objectives.

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