Many Canadians remain undeterred from buying a home despite the soaring costs of entering the market, a survey from NerdWallet showed.
for two-thirds of Canadians and almost half of all respondents stated they are looking to buy a property within the next five years, a report released on Thursday revealed. Despite the optimism, Canadians face a number of barriers such as a rising interest rate environment and high home prices, the report said.Of those planning to use a down payment to buy a house in the next five years, 24 per cent said they have not yet started saving for it yet.
The age group most eager to enter the housing market within the next three years are those aged 18 to 34 , followed by those aged 35 to 44 .Canadians aged 55 and over are the least enthusiastic about buying a home, with only nine per cent planning to purchase a property in the next three years.
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