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A recent survey on housing affordability in Canada puts Kelowna near the top of the list for homeownership desirability.
According to the website finder.com, 54 per cent of Canadians would consider moving cities to be able to afford a home.
Kelowna sits at number five on the list. Toronto is the city most Canadians would consider moving to, followed by Halifax and St Catharines/Niagara. The fewest number of Canadians would consider moving to Regina, Whistler and Windsor out of the 22 cities included in the study.
Kelowna is the most popular city for West Coasters to move to, with 19.66 per cent, and second most popular for those in the Prairie provinces (12.72 per cent). It ranked 14th for the Atlantic region and 15th for central Canadians. Kelowna ranked third as a city to buy a place for those aged 55-64 and fourth for those 65 and over.
Demographics influence whether someone is open to relocating and where they’re willing to move. For example, Toronto is the top pick for Gen Z, millennials and those aged 35-44, but it ranked fourth for 45- to 54-year-olds, eighth for 55- to 64-year-olds and 18th for those 65 and over.
Global editor-in chief at Finder, Angus Kidman, says the majority of Canadians aspiring to homeownership are open to moving cities.
“With more than half of the adult population open to moving cities to own their own home, the study suggests that the dream of homeownership is very much alive and well,” he said.
Kidman says the numbers also show an interesting trend.
“The number of Canadians willing to relocate to fulfil their goal of homeownership skyrockets among younger generations,” he said. “Just under 70 per cent of millennials and 85 per cent of Gen Zers are open to moving cities.”
Where Canadians are willing to move to buy a home:
- Toronto
- Halifax
- St Catharines/Niagara
- Ottawa
- Kelowna
- London
- Kitchener
- Montreal
- Calgary
- Vancouver
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