2019 Recreational Property Report Canadian Millennials’ interest in recreationa…

2019 Recreational Property Report

Canadian Millennials’ interest in recreational property ownership is higher than ever.

The RE/MAX 2019 Recreational Property Trends survey conducted by Leger finds that the majority of Millennials (56 per cent) are in the market to purchase a recreational property.

Key findings:

40 per cent of Canadians are in the market for a recreational property, 56 per cent of Millennials are in the market for a recreational property.

30 per cent of Canadians who say they use or would use a recreational property as an investment opportunity, Millennials rank highest at 33 per cent, compared to Boomers at 28 per cent.

More than half (54 per cent) of Canadians who own or are considering owning a recreation property are willing to travel up to two hours, 24 per cent saying they would travel two hours. Slightly less (22 per cent) are willing to travel three or more hours.


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Record-low Supply and Interest Rates Fuel Record October Home Prices

Sales were up 32.1% year-over-year and set a new record for September by a margin of 14,000 transactions, according to CREA.

Record-low Supply and Interest Rates Fuel Record October Home Prices

The Canadian Real Estate Association reported the average sale price at $607,250 for the month, an increase of 15.2% from a year earlier.Removing the high-priced markets of Toronto and Vancouver, the national average price was $480,250, up 19.5% from a year ago.

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Mortgages: The Interest Rate Debate

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Mortgage refinance applications skyrocket, saving homeowners interest payments

Three rate cuts were made in March in an effort to combat the economic shock the nation is facing as a result of the COVID-19 pandemic.

Mortgage refinance applications skyrocket, saving homeowners interest payments

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