A recent survey conducted by the Ontario Real Estate Association (OREA) has revealed that nearly four out of 10 Ontarians are considering leaving the province due to the rising cost of housing. The survey, which was conducted by Ipsos, polled 1,000 Ontarians and found that 37% of respondents are contemplating a move to a more affordable location.
According to the survey, the high cost of housing is the main reason why Ontarians are considering leaving the province. This sentiment was shared by 45% of respondents, followed by the desire for a better quality of life (25%) and job opportunities (17%).
The survey also revealed that the majority of Ontarians (63%) believe that the government is not doing enough to address the issue of housing affordability. This sentiment was particularly strong among younger respondents, with 72% of those aged 18-34 expressing dissatisfaction with the government’s efforts.
OREA CEO Tim Hudak expressed concern over the survey results, stating that “the dream of homeownership is slipping away for many Ontarians.” He also called on the government to take immediate action to address the issue of housing affordability in the province.
The survey results come at a time when the average home price in Ontario has reached an all-time high of $1,090,992, according to the Canadian Real Estate Association. This has made it increasingly difficult for first-time homebuyers to enter the market and has also put a strain on those looking to upgrade or downsize their homes.
In response to the survey, the Ontario government has stated that they are committed to addressing the issue of housing affordability. In a statement, Minister of Municipal Affairs and Housing Steve Clark said that the government is taking steps to increase the supply of housing and make it more affordable for Ontarians.
The survey results highlight the urgent need for action to be taken to address the issue of housing affordability in Ontario. As more and more Ontarians consider leaving the province due to the high cost of housing, it is crucial for the government to take concrete steps to make homeownership a reality for all Ontarians.
