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Almost Half Of Canadians Aged 25 To 35 Apparently Own A House & No, We're Not Joking

One quarter of these homeowners purchased a property during the pandemic. 🏠

Almost half (48%) of all Canadians between the ages of 25 and 35 currently own their own home, according to a demographic survey from real estate company Royal LePage from earlier this year.

The survey found that among non-homeowners, there is "a strong intention to purchase in the future" (84%), with 68% hoping to get on the property ladder within five years.

The percentage of young people who own their own homes was higher in some provinces, like Alberta (56%), Saskatchewan and Manitoba (53%) and Quebec (50%).

The figures were a little lower in regions like Atlantic Canada (48%) and Ontario (44%).

If you weren't already feeling a little bummed out by this news, you may be surprised to find out that 25% of these homeowners purchased their property during the COVID-19 pandemic.

Experts at the real estate company suggest factors like historically low mortgage rates and smaller competition for entry-level housing contributed to this "unexpected prize for young Canadians" over the last year or so.

However, if you've spent the entire COVID-19 pandemic baking bread rather than saving for property — we feel you!

If you're looking to buy a place of your own sometime soon, average house prices in Canada are expected to continuing rising and soar to over $700,000 next year, so good luck!

The Canadian Real Estate Association (CREA) has updated its forecast on home sales activity across the country for 2021 and 2022, and it predicts there will be price increases in both years, with supply being at "record lows."

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