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Greater Toronto Area Homebuying Intentions - Recent Survey Results

A poll conducted by RBC Royal Bank found 12 percent of GTA residents said they are "very likely" to purchase a home in the next two years, in line with the 11 percent witnessed last year and 3 points higher than the national average.

Homebuying intentions in the GTA are holding steady according to a RBC Royal Banks 14th Annual Homeownership Survey.

Among those who intended to buy, 42 per cent plan on buying a bigger home than they currently live in, and 72 percent say they will buy a resale home.

Majority of residents are saying now's the time to buy - a feeling perhaps in part due to a concern of rising housing prices and interest rates, said Paul Bimm, RBC's vice-president of builder markets.

Among GTA residents, 69 percent said they have a mortgage on their home - an increase of 10 points from last year and 6 points higher than the national average.   GTA mortgage holders have an average of $153,650 left to pay on their mortgages.

The online poll was conducted by Ipsos Reid between January 18 and 22, 2007.

 

Posted: Thursday, March 29, 2007 11:30 PM by Sutton Realty

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