Many In Canada’s Top Cities Are Likely To Consider Purchasing A Condo

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Toronto, ON, June 2006 – A large proportion of Canada’s urban-dwelling adults are likely to consider purchasing a condominium as their primary residence, according to a new Ipsos Reid survey conducted on behalf of TD Bank.

The survey, fielded among adults age 25-59 in Toronto, Vancouver, Montreal, Calgary and Ottawa, asked respondents whether they would be likely to consider purchasing a condo as their primary residence – to which 35% indicated that they likely would (while 64% said they likely would not).

In fact, large proportions of this population see strong advantages to condominium living, specifically:

  • 85% agree that a key benefit to living in condo “is not having to worry about home maintenance”

  • 46% agree that “most condos in my city have features and amenities that are important to people with families”(46%); and

  • 37% disagree that “condos are too small” for their needs.

Among those who are likely to consider purchasing a condominium as their primary residence, the top reason offered, unprompted, is that condos are “easier to maintain” and they “don’t want the hassle of maintaining house”(69%), followed by “affordability”(57%), and “condo lifestyle”(45%).

But, among those who would not consider a condominium as their primary residence, most point to “no back-yard or play areas”(63%) and “not enough room”(53%), while others say they “don’t want to live downtown”(32%) and “don’t want their kids growing up downtown”(21%).

Perhaps the biggest barrier to condo living is that a large majority (80%) are unlikely to consider a condominium as a home to start a family and raise children (45% are not at all likely to consider a condo as a place to raise a family). Around the same percentage (79%) agree that “living in a condo isn’t suitable for people who have more than two children” and most (67%) also feel that “living in condo is only suitable for people who have no children living at home”

However, despite the strong feelings among many that condominiums are perhaps not the ideal place to start a family and raise children, strong majorities of respondents recognize that condos can offer important amenities for families, including:

  • “Building security”(91%);

  • “Pool or recreation facilities for children”(83%);

  • Close to public transportation (87%);

  • “Close to work”(81%);

  • “Schools nearby”(81%)

These are the findings of an Ipsos Reid poll conducted for TD Bank and fielded from April 27th to May 12th, 2006. For the survey, a representative sample of 2125 adults aged 25-59 who live in Toronto, Vancouver, Montreal, Calgary, or Ottawa were interviewed via an on-line survey vehicle. The data was weighted to reflect the actual population distribution of these five cities overall. Results of this survey can be considered accurate to +/-2.1 percentage points, 19 times out of 20, of what they would be had the entire population been polled. The margin of error will be larger within each city and other sub-groupings of the survey population.

Please open the attached PDF to view the full factum and detailed data tables.

Ipsos Reid

Ipsos Reid is Canada�s market intelligence leader, the country�s leading provider of public opinion research, and research partner for loyalty and forecasting and modelling insights. With operations in eight cities, Ipsos Reid employs more than 300 research professionals and support staff in Canada. The company has the biggest network of telephone call centres in the country, as well as the largest pre-recruited household and online panels. Ipsos Reid�s marketing research and public affairs practices offer the premier suite of research vehicles in Canada, all of which provide clients with actionable and relevant information. Staffed with seasoned research consultants with extensive industry-specific backgrounds, Ipsos Reid offers syndicated information or custom solutions across key sectors of the Canadian economy, including consumer packaged goods, financial services, automotive, retail, and technology & telecommunications. Ipsos Reid is an Ipsos company, a leading global survey-based market research group.

To learn more, please visit www.ipsos.ca.