First time home buyers in Canada are getting older: poll
Posted April 4, 2014 10:26 am.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – Thirty-six is the new 30 when it comes to first-time homebuyers in Canada according to the poll from BMO.
It finds the average age of someone buying their first home is 36, while the majority of current homeowners bought their place before they were 30.
The age increase isn’t much of a surprise, considering the average age people are marrying and having children is also increasing.
It’s also taking longer to be able to afford a house, with real estate prices having increased by 83 percent over the last decade.
The average first time buyer this year is also single, with an income around 55-thousand dollars.
They expect to live in their home for 15 years.