Friday, February 29, 2008

Canadian women homebuyers....... Survey says..

Poll shows major regional differences in buying, selling patterns for Canadian women homeowners

- Vancouverites much more likely to buy condos than houses
- Calgary and Edmonton women split between houses, condos
- Toronto women twice as likely to buy condo than house
- Family support strong for first time purchasers

TORONTO, Feb. 29 /CNW/ - What type of home the individual female
homeowner chooses to buy varies widely by region, according to a national poll
by TD Canada Trust. Yet wherever they live, the support they receive from
family is very strong.
When it comes to condominium versus house as a purchase, condos come out
ahead on a national basis. 42% of poll respondents choose them compared with
34% for houses. On a regional basis:

Almost three-in-four Vancouver women buyers (73%) purchased a
condominium; 11% a house.

  • In Calgary and Edmonton, the condo/house choice was evenly split,
    with 31% opting for condos and 33% for houses.
  • 64% of Prairie women (residents of Winnipeg, Regina and Saskatoon)
    bought a house as their most recent home purchase. Only 26% bought a
  • In Toronto, 52% opted for condos and 25% for houses.
  • 41% of Montreal women poll respondents bought a house. 35% bought a
  • 57% of Atlantic women chose a house; only 5% bought condos.

"When we see that Vancouver women homebuyers are far more likely to buy a
condo than women in Atlantic Canada, it becomes clear that price and
availability are major decision factors," says Joan Dal Bianco, Vice
President, Real Estate Secured Lending. "It would seem that Canadian women are
making primarily economic, market-driven decisions regarding the type of home
they will live in, rather than basing their decision on maintenance, security
or other factors."

The poll, conducted in the first two weeks of this year by Ipsos Reid,
was among women aged 20 to 45 who have purchased a home as an individual
rather than jointly with a spouse or common law partner. Among this group, the
average age at which they purchased their first home is 29 years. 82% are
single, 80% have no children and 49% have a university degree. The vast
majority (86%) still live in the last home they purchased and have made only
one home purchase as an individual (81%).

When asked how they would characterize the support they received from
their family when they told them they were buying their first home as
individuals, three-in-four women (74%) across Canada say their family was
"very supportive". Only 7% indicate the family was "not very supportive" or
"not at all supportive".

When asked what would motivate them to sell their home, the reasons vary
across the country. "Trading up to a better home" is the top reason on a
national basis, with half of women (50%) mentioning it. Regionally, Vancouver
and Atlantic women are the most inclined to be motivated by trading up (60%
each). Montreal women the least inclined (41%).

Across the country, "getting married" was fifth on a list of the top six
reasons for selling one's home, with 29% of poll respondents. Women in Toronto
(41%), Calgary/Edmonton (40%) and the Prairies (38%) are somewhat more
inclined than the national average to cite marriage as a reason to sell. In
Montreal, only one-in-ten women (11%) say marriage; in Atlantic Canada, it is
one-in-five (20%).

"These poll findings portray a young, independent, financially savvy
woman homeowner," concludes Dal Bianco. "This is a revolution that will likely
change the face of Canadian housing."

The online survey was conducted among 713 women living in major
metropolitan areas across Canada and reflects the population of Canadian women
in these areas aged 20-45 according to 2006 Census data. The margin of error
for the total sample is +/-3.7%, 19 times out of 20.

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