MONTREAL, Sept. 20,
2022 /CNW/ - According to a survey by Royal
LePage1, conducted by the Léger firm among
1,061 Quebecers of voting age, the voting intentions of most voters
in the October 3rd provincial
election will be influenced by the housing policy promises of the
various political parties.
When respondents were asked to indicate to what extent a party's
position on housing supply and affordability is a top consideration
in their voting decision in the upcoming provincial election, 52%
of Quebec respondents agreed with
the statement (16% strongly agreed and 36% somewhat agreed).
Overall, 33% disagreed with the statement, while 15% responded "I
don't know". Respondents who indicated that the increased cost of
living has impacted their home purchase plans since the beginning
of 2022 were more likely (65%) to say that a party's position on
housing supply and affordability is a top consideration in their
voting decisions in the upcoming provincial election.
"It is obvious that Quebecers were affected by a long period of
brisk real estate market activity. This brought to light a gap
between the dream of becoming a homeowner and the chronic shortage
of available properties," said Dominic
St-Pierre, vice president and general manager for Royal
LePage in Quebec. "Today, though
several real estate markets in the province have seen property
prices stabilize or even decrease over the past few months, the
supply of available housing remains much lower than before the
pandemic."
Despite some moderation in the Quebec real estate market over the last
several months, the province continues to see a shortage of
approximately 100,000 housing units.2
Following the Bank of Canada's
decision this month to raise its key interest rate for the fifth
consecutive time since March of 2022, and as inflation remains high
in the country, Royal LePage investigated whether these economic
issues have affected property purchase intentions of Quebecers.
Survey results reveal that since the start of 2022, the rising cost
of living (including higher interest rates and inflation), has
caused one in five respondents (21%) to postpone or deprioritize
the purchase of a property. Among respondents aged between 18 and
34, the proportion rises to slightly over one third (32%). Overall,
55% of respondents said they had no plans to purchase a property
this year.
______________________________
|
1 An
online survey of 1061 Quebec residents aged 18+ was completed
between September 9, 2022 and September 11, 2022, using Léger's
online panel. No margin of error can be associated with a
non-probability sample (i.e., a web panel in this case). For
comparative purposes, though, a probability sample of 1061
respondents would have a margin of error of ±3.0%, 19 times out of
20.
|
2 APCHQ: Quebec short 100,000
housing units: the APCHQ analyzed the situation of 18
agglomerations and census metropolitan areas, June 2022 (available
in French only).
|
A recent Royal LePage survey3 on the
homebuying trends of Canadian millennials also established that the
desire to be a homeowner is very present among this generation of
Quebecers, now aged 26 to 41. In fact, 74% of the cohort who are
not currently homeowners believe that they will be in the future.
However, the cost of living is an obstacle for many of them, as 43%
of respondents in the province said they do not believe that their
salary will increase at a rate that would allow them to buy a
property in their current place of residence.
______________________________
|
3 Six
in ten non-homeowner millennials in Canada believe they will one
day own a home, but half say they would have to relocate: Royal
LePage Survey
|
"For the provincial election, the majority of political parties
are proposing to invest in improving social housing, which is a
positive thing in itself," said St-Pierre. "However, it is concerning that
some platforms do not take into account the home ownership
challenges of middle-class households whose purchasing power has
been greatly reduced by inflation, rising interest rates and higher
home prices," he said. "To make home ownership more affordable, the
province needs a broader integrated housing strategy that, in
conjunction with federal and municipal initiatives, addresses the
many facets of the housing supply shortage and the barriers to
affordability for all segments of the population," he
concluded.
Data Chart: Royal LePage Survey: Is housing supply and
affordability a top priority for Quebec's voters?
rlp.ca/chart_2022-quebec-election-survey
Royal LePage Media
Assets
The Royal LePage Media Room contains many royalty-free images,
as well as complimentary B-reel videos.
About the Survey
An online survey of 1061 Quebec
residents aged 18+ was completed between September 9, 2022 and September 11, 2022, using Léger's online panel.
No margin of error can be associated with a non-probability sample
(i.e., a web panel in this case). For comparative purposes, though,
a probability sample of 1061 respondents would have a margin of
error of ±3.0%, 19 times out of 20.
About Royal LePage
Serving Canadians since 1913, Royal LePage is the
country's leading provider of services to real estate brokerages,
with a network of more than 20,000 sales representatives in 600
offices across Canada. Royal LePage is the only real estate
company in Canada to have its own
charitable organization, the Royal LePage Shelter Foundation,
dedicated to supporting women's and children's shelters and
educational programs aimed at ending domestic violence. Royal
LePage is an affiliate of Bridgemarq Real Estate Services Inc., an
entity listed on the Toronto Stock Exchange under the symbol "TSX:
BRE" For more information, please visit www.royallepage.ca.
SOURCE Royal LePage Real Estate Services