14 million Canadians plan to buy or rent a new home in 2021: Finder.com report

Nearly half (45 per cent), or about 14 million Canadians say this is the year they will buy or rent a new house or apartment, proving 2021 is a year of transition when Canadians continue to plan to change where and how they live according to the latest research from financial comparison site Finder.com. 

The report shows this number of Canadian’s making housing moves this year is mostly generational. Nearly three times as many millennials said they planned to get a new house or apartment in 2021 (64 per cent) compared to just 22 per cent of boomers. 

While age was the biggest factor in which Canadian’s were planning to make moves, gender also played a role. Nearly half of men (48 per cent) plan to buy or rent a new home vs just 42 per cent of women and more men plan to buy property in 2021 (28 per cent vs 21 per cent of women). 

With all these Canadians making housing moves in 2021 the research also asked them what factors they prioritized in their next home. Out of 15 factors the top five national factors were more space (sq/ft) and rooms (48.3 per cent), the style and look of the home (48 per cent), spacious backyard or outdoor space (43.8 per cent), a driveway or garage (43.7 per cent) and being located in a low-crime neighborhood (38.1 per cent). 

Nicole McKnight, PR Manager at Finder.com, says there Canadians have faced unprecedented change in their living situations during the pandemic which is resulting in shifting housing priorities and trends.  

“It’s understandable that with the unprecedented amount of time Canadian’s have spent in their homes they are prioritizing factors like more space or rooms and outdoor space. Other pandemic housing trends that will likely continue, will be the desire for a home office to work virtually at least some of the time.”

To see the full report about housing trends across Canada visit: https://www.finder.com/ca/canada-housing-trends

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