See ya, cities! With the COVID-19 pandemic, real estate in Canada is seeing a trend of people leaving cities and big metropolitan areas for places with more green space. That's happening in three regions in the country because people want more room.
RE/MAX released a follow-up Liveability Report on September 25 to one that was put out in the spring.
This one is for fall 2020 and looks at how Canadians feel about where they live and what real estate trends have been popping up with everyone spending more time at home.
Liveability means the quality of life at a local level that you get from small businesses, arts and culture, green spaces, housing and more.
According to the report, almost 80% of Canadians are happy in their neighbourhood after spending more time at home because of the pandemic.
However, 34% are concerned about the liveability of where they live.
People in three parts of Canada are ditching big cities for more space.
In B.C., there has been an increase in demand for homes with more room both inside and out throughout the pandemic.
That means a place for a home office along with proximity to parks and people are fine with leaving cities to check those boxes.
In the report's survey, 76% of British Columbians said they want more green and public spaces.
Atlantic Canada has also seen a bigger demand for homes outside of bustling metropolitan areas recently.
RE/MAX said that the biggest shifts in people's behaviour have come about because of the pandemic with people using their homes and outdoor spaces more.
That's what is driving people away from downtown.
Ontario is in a similar situation with people leaving Toronto which is causing housing markets in the suburbs to shift.
According to RE/MAX, people want more space and more local stores.
The demand for better access to parks and walkability is also increasing.
In the province, 74% of people surveyed for the Liveability Report said they wanted more public green spaces and dog parks.
City living is expensive but it's gotten a bit better.
Recently, the average monthly rent for an apartment in Toronto fell by 11% and every neighbourhood saw a decline.