Quebec’s youngest adults are main the cost into the housing market, whilst many battle to afford a house.
That’s one of many key takeaways from a brand new Léger survey commissioned by the Quebec Skilled Affiliation of Actual Property Brokers (QPAREB), the Société d’habitation du Québec (SHQ), and the Fonds immobilier de solidarité FTQ. The findings, based mostly on greater than 4,180 responses collected late final 12 months, provide a revealing have a look at the shopping for, promoting and renting intentions of Quebecers.
Amongst 18-to-34-year-olds, practically half (45%) say they plan to purchase a house within the subsequent 5 years. That’s practically double the speed for these aged 35 to 54, and 5 occasions increased than for these 55 and up. What’s extra, over half of these youthful patrons can be buying for the primary time.
However ambition alone doesn’t assure a mortgage approval. Younger Quebecers level to their monetary scenario (32%), the financial local weather (29%), excessive house costs (25%) and inadequate financial savings for a down cost (24%) as the most important obstacles.
In consequence, many assist adjustments to the system: 62% of renters hoping to purchase say elevating the Residence Consumers’ Plan withdrawal restrict would assist, whereas an analogous share say permitting 30-year amortizations for insured mortgages would enhance affordability. As of April, the federal authorities did announce an extension to 30-year amortizations for insured mortgages, however restricted it to first-time patrons buying newly constructed houses.
There’s additionally rising curiosity within the First Residence Financial savings Account, with 58% of first-time patrons saying they plan to make use of it, up from 46% a 12 months earlier.
Falling charges carry hopes, however not everybody can act on them
Decrease mortgage charges seem like making a significant distinction for a lot of would-be patrons, with 75% saying current cuts have positively influenced their determination to buy.
“For the primary time since 2020, the distinction between the precise and anticipated buy costs has narrowed, indicating a greater understanding of market realities—nonetheless strongly favouring sellers—and a sure diploma of resignation,” mentioned Charles Brant, QPAREB’s Director of Market Evaluation.
“The slowdown in inflation and the current drop in mortgage rates of interest have actually performed a job on this shift,” he added. “The prospect of additional fee cuts may actually create new alternatives in the actual property market, because it encourages potential sellers to take motion, particularly contemplating that one third of mortgages shall be up for renewal over the following 24 months.”
Consumers now anticipate to pay a mean of $457,000 for a house, up 4% from 2023, and practically two-thirds say they plan to purchase an current property, citing higher costs and handy places.
The survey additionally discovered that promoting intentions stay regular, with 14% of house owners planning to promote within the subsequent 5 years. Older sellers are largely motivated by downsizing or making ready for retirement, whereas youthful sellers are searching for more room or a more recent house.
Leases and inexperienced decisions additionally taking part in a job
Environmental considerations are additionally creeping into housing selections, the survey finds. Whereas many Quebecers say inexperienced elements like vitality effectivity or sustainable supplies matter, most really feel they lack the instruments to correctly assess them.
“There may be nonetheless room for enchancment when it comes to serving to [buyers] make knowledgeable decisions,” famous Fonds immobilier CEO Martin Raymond.
On the rental facet, youthful tenants overwhelmingly see renting as momentary. Almost 8 out of 10 respondents (79%) plan to maneuver inside 5 years, and practically half hope to purchase.
Older renters usually tend to keep put, valuing stability and ease. Value stays the highest think about selecting a rental, however many tenants say they’d pay extra for facilities like indoor parking, a bigger unit or higher soundproofing.
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Charles Brant first-time homebuyers Fonds immobilier de solidarité FTQ QPAREB Quebec Quebec Skilled Affiliation of Actual Property Brokers Regional Société d’habitation du Québec survey younger homebuyers
Final modified: June 23, 2025
