June 16th - 2010

MARKET WATCH: First time buyers willing to pay more for location

A Bank of Montreal (BMO) survey released in April says among current homeowners and future first-time homeowners, location is the main reason they would consider offering more than the asking price for a home.

A Bank of Montreal (BMO) survey released in April says among current homeowners and future first-time homeowners, location is the main reason they would consider offering more than the asking price for a home. The survey found that 70 per cent of current homeowners would consider offering more for a home based on its location and 63 per cent of future first-time home owners would consider offering more for a home based on its location. For more information visit www.bmo.com/news and search for the “Location has a price tag” press release.

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For more information contact

Ontario Real Estate Association

Jean-Adrien Delicano

Senior Manager, Media Relations

JeanAdrienD@orea.com

416-445-9910 ext. 246