September 23rd - 2014

Index reveals consumer perceptions of market

What do Ontario consumers really think of the current real estate market?

Spring Index

Spring Index

What do Ontario consumers really think of the current real estate market?

Now you can find out more about the views of people in your region and across the province, thanks to The Ontario Home Ownership Index. This new tool has been created by the Ontario Real Estate Association (OREA) in partnership with Ipsos Reid, a leading global research firm.

The index reveals the latest market outlook and home ownership trends across the province. Following a survey of 1,000 people, the index provides details of the public’s perceptions and expectations of the real estate market, intentions to buy and sell, views on home ownership, housing trends and more. Research will be conducted twice a year across Ontario as part of this initiative.

“We’re incredibly excited to be able to share the new index with you, our members,” says OREA president Costa Poulopoulos. “We believe that this product will be tremendously helpful to REALTORS® and your clients. As you carry on your day-to-day business, it will give you insights into the trends of the current market and help you plan for the future based on consumer perceptions.”

“No two real estate markets are the same in Ontario, despite their proximity,” he adds. “Understanding local market conditions is also important for home buyers and sellers as they prepare to buy or list a home. Consulting a local REALTOR® who specializes in a particular market is a great way for consumers to become better informed.”

News releases summarizing the findings of the survey conducted in spring 2014 can be seen on the OREA website. Asked about their plans to purchase residential real estate in the province in the next two years, the majority of prospective home buyers surveyed (59 per cent) say they are likely to buy a detached house, while more than one quarter (28 per cent) say they plan to buy a condominium. Torontonians led the charge for condos, with 41 per cent saying they plan to buy a condominium, compared to only 23 per cent of other Ontarians.

Across the province, Ontarians had positive views of the current residential market, with a majority (57 per cent) viewing it as favourable compared to only 20 per cent who view it as unfavourable. Among Ontarians planning to buy a home in the next two years, 40 per cent say that to save for a down payment they will create a budget, followed by 36 per cent who plan to cut costs. To read the full releases, see the News Releases section of www.orea.com. Regional results are in the Members section of the website and on the OREA blog at www.oreablog.com. You can also print colourful, visually appealing handouts featuring infographics that highlight key findings from the index to share with your clients. Look for “OREA launches The Ontario Home Ownership Index.”

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For more information contact

Ontario Real Estate Association

Jean-Adrien Delicano

Manager, Media Relations

JeanAdrienD@orea.com

416-445-9910 ext. 246