Abacus poll on reducing costs in Ontario
What Early Housing Policy Signals Are Telling Us and Why Canadians Are Paying Attention. Eddie Sheppard, Abacus Data.
An interesting poll by Abacus. There’s a lot of demand which has been put on hold:
A majority of Ontarians, 57%, still intend to purchase a home. But that intention is not translating into action the way it once did. About 1 in 5 prospective buyers say they have delayed purchasing over the past year because homes are too expensive.
That delay is more concentrated among younger Ontarians. 33% of those aged 18 to 29 and 29% of those 30 to 44 say they’ve postponed buying. First-time buyers stand out as well, with 30% reporting a delay.
Naturaly these people are paying a lot of attention to recent moves by the Ontario and federal governments to cut costs.
Four in ten prospective buyers say removing sales tax makes them more likely to purchase a home, including 13% who say much more likely. Among those who had already delayed buying, that rises to 53%.
People are also paying attention to plans to reduce development charges on new housing.
Reducing or delaying development charges lands differently. It is less visible to buyers.
Still, it is not being dismissed.
43% of Ontarians believe these changes will make at least a moderate difference in reducing home prices, while only 16% say they will have no real impact. Among prospective buyers, 51% see a meaningful impact, rising to 54% among those who have already delayed buying.
Previously: