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Nearly one in four Canadian baby boomers are expected to buy a new home in the next five years.

That is what research from Royal LePage’s Boomer Trends Survey found, including other interesting nuggets about home buying and when boomers think their children are going to leave the nest.

The survey results indicate 1.4 million boomers are planning to buy homes, which would have a significant impact on the housing market. However, the majority of boomers (59 per cent) are expected to renovate their current residence rather than buying a new home.

Of boomer respondents planning to purchase a home in the next five years, 45 per cent are most likely to buy a detached home, 32 per cent are most likely to snap up a condominium, while 10 per cent noted strongest interest in a semi-detached/townhome and five per cent said a recreational property.

“A significant factor for boomers who will not buy a home in the next five years is the increased housing costs in Canada’s largest cities and the reality that millennial children are residing at home well into adulthood,” Royal LePage president and CEO Phil Soper said in a press release.

The survey found a whopping 24 per cent of B.C. survey respondents who still have children living in their home believe they aren’t going to move out until after the age of 35. Nationwide, that figure is only nine per cent. Forty-four per cent of respondents expect them to move out between the ages of 21 and 25, and 21 per cent expect them to leave between the ages 26 and 30. Eighteen per cent anticipate their children will move out after the age of 30.