It’s no secret that the real estate market is becoming increasingly crowded for young first-time buyers.
By focusing its magnifying glass on this growing phenomenon, the Point2 agency carried out a national study, particularly observing the difference in situation between a couple and a single buyer, measuring the economic effort required in these two cases. The picture is quite mixed, with some key cities presenting a much greater challenge for single first-time buyers than for couples.
When we compare ourselves, we console ourselves: it is Ontario and British Columbia which have the cities where the difference is greatest. In Richmond Hill, for example, a single person will have to save 48 years more than a pair of lovebirds! On the other side of the spectrum, it is Alberta and Quebec that are doing well. In Lévis, the difference in savings time for a first real estate purchase is only one year and ten months between couples and single people. Among the 10 cities where the gap is narrowest, we also find Saguenay, Quebec and Gatineau. Moral: on the real estate market, it is better to be single in Quebec than in Ontario…
Consult the Point2 study (in English)