Livability important to Canadian homebuyers: report
May 13, 2019
Canadians love where they live and celebrate the livability factors — things that give homeowners the true satisfaction of his/her home within the context of a neighbourhood — when it comes to choosing a property to buy and live in. In fact, according to a recent RE/MAX survey conducted by Leger, 89 per cent of Canadians would recommend their neighbourhood to others.
The latest RE/MAX report examines a variety of quality-of-life factors and how they impact Canadians’ homebuying decisions.
“Housing is often a contentious topic in Canada, with affordability and inventory being persistent problems from coast to coast,” says Christopher Alexander, executive-vice president, RE/MAX of Ontario-Atlantic Canada.
“However, when buyers are looking for a home, the search begins at the neighbourhood level. And the good news is that Canadians have lots of choice when it comes to ‘livable’ cities and neighbourhoods.”
Six-in-10 Canadians put easy access to shopping, dining and greenspaces at the top of their livability criteria. Proximity to public transit (36 per cent), work (30 per cent) and to preferred schools (18 per cent), as well as cultural and community centres (18 per cent) follow as the top neighbourhood wants and expectations.
The proximity and availability of these livability factors is so important that Canadians spend more than two-thirds of their time in their own neighbourhood. This rate is higher among Baby Boomers compared to Gen Z, Millennial and Gen X Canadians.
“While price and value are always top-of-mind for buyers, there are some aspects about a home that you can’t change,” says Alexander. “These livability factors are what make your home more than just the place you live. They are at the heart of the Canadian experience, especially when you consider the survey results.”
In Ottawa, Mooney’s Bay, Downtown Ottawa and The Glebe rank as the top three neighbourhoods for access to greenspaces and parks, walkability, retail and restaurants and the ease of getting around/public transit. Crystal Beach ranks as the top hidden gem neighbourhood, while Orleans, Barrhaven and Blackburn Hamlet rank as the top three neighbourhoods for affordability and good supply of housing inventory.
A separate survey of RE/MAX brokers based in major Canadian cities reveals that all cities rank high in at least one livability factor. Brokers in 10 out of 15 markets ranked access to greenspace as high, including Ottawa, London, Saskatoon, Edmonton, Calgary, Victoria and Nanaimo. While housing affordability ranked low in Toronto and Vancouver, it is either medium or high in every other market, with Ottawa, Hamilton, London, Winnipeg, Edmonton and Calgary offering high levels of affordability.