Immigrants drive house market
More than half purchase home within three years of arriving, report finds
Dec 06, 2007 04:30 AM
Tony Wong
business reporter
Immigration continues to be a driving force behind the strength of the Canadian housing market, says a study to be released today.
More than a half of immigrants to Canada purchase a home within three years of arriving, says the study by Genworth Financial Canada.
“The desire for home ownership among new immigrants is widespread,” says the report, an advance copy of which was obtained by the Toronto Star. The study is based on a phone poll of residents who have come to Canada within the past 10 years.
The report comes on the heels of new census figures this week that show almost half the Greater Toronto Area’s population was born in another country – making the city more diverse than New York, Los Angeles or Miami. Another report released yesterday shows that the Toronto area is on pace for a record-breaking year for home resales, although it is difficult to assess exactly how much of that is due to immigration.
Still, in the five years ending in 2006, 40 per cent of newcomers settled in the Greater Toronto Area, and the poll shows home ownership remains a high priority, with 59 per cent of immigrants expecting to buy a home within five years.
Neighbourhood safety, location and price are the most important factors to new immigrants, with the least important factor being whether local residents share the same ethnic background, the study found.
Non-homeowners are also more likely to purchase a home in the city than in the suburbs. While that may be the intention, Canadian census figures show many are moving to the suburbs on arrival. Markham’s mix shot to 56.5 per cent foreign-born in 2006, for example, according to census data.
New immigrants from East and Southeast Asia are the most likely to own a home and the most likely to seek financing information in their own languages.
The poll was taken between Sept. 17 and Oct. 3 with 418 residents of Toronto, Vancouver, Montreal, Calgary and Ottawa-Gatineau. The poll has a margin of error of plus or minus 4.8 per cent, 19 times in 20.
http://www.thestar.com/Article/283021
2007 already a record year for home resales
Dec 06, 2007 04:30 AM
Tony Wong
business reporter
Toronto realtors are looking at scaling the magic 90,000 mark in home sales by the end of the year.
Three years ago, sales climbed above 80,000 units and analysts thought the peak had arrived. Many were expecting a pullback this year.
But strong consumer confidence, low interest rates and good job numbers have already made it the best year ever for home resales in the Toronto area with one month to go.
“Ninety thousand is a a pretty significant number. Despite all the doom and gloom we’ve been hearing in the United States, home sales in the Toronto area have been at extremely high levels throughout the year,” said economist Will Dunning.
Record-breaking November sales of 7,313 have driven the total to 88,695, enough to beat the record set in 2005 of 84,145 sales, according to figures released by the Toronto Real Estate Board yesterday.
“As 2007 winds down the GTA resale home market is looking as healthy as it has ever been,” said board president Maureen O’Neill.
The strength of the market represents an unprecedented 10 years of appreciation in the housing market and the fourth consecutive year where sales have breached the 80,000 mark. In contrast, at the peak of the market in 1988 before the housing bubble burst in the Toronto area, there were 49,381 sales.
Housing sales did not reach the 50,000 mark until 1996. For much of the 1970s and a good part of the 1980s, 20,000 to 30,000 sales in the Toronto area were considered normal.
The average price of a home is now $393,747 up 11 per cent from November of last year, according to the board.
Consensus estimates by analysts are forecasting that next year will see average price appreciation under 5 per cent.
One concern is that the high loonie is causing a massive loss of manufacturing jobs in Ontario, which may eventually dampen the housing market. A new land transfer tax to be implemented by the City of Toronto next year is also expected to have an effect.
“Given the state of the manufacturing sector, there will definitely be some hardship next year for sure,” Dunning said.
http://www.thestar.com/Business/article/283028
研究报告：加拿大移民的购房经历
阿尔伯特大学，Michael Haan教授
Genworth Financial Canada公司刚发布了它的2007年度秋季首次购房者调研报告，该报告对移民进行了民意测验，以期更多了解他们在购房之路中所经历的成功和面对的挑战。该调研在2007年9月17日至10月3日进行，调研对象包括了居住在5个人口普查城市地区（CMAs）的418位新移民。这5个地区是根据加拿大统计局确定的拥有最多新移民人口的城市地区：多伦多、温哥华、蒙特利尔、卡尔加里和渥太华-赫尔。该调研结果误差在±4.8%内，即二十分之十九的精确度。以下是该调研的一些主要发现：
新移民中普遍希望在加拿大拥有房子（91%）。
半数加拿大移民（52%）在落地三年内都顺利地买到了房子。
价格公道、出行便利、所在社区安全的独立屋，是购房者的热选，其次是镇屋和半独立屋。分户式产权房已落出最受欢迎的选择。
72%的受访对象承认没有信用记录是在加拿大购房的一大障碍，以及立即开始建立信用等级是非常重要的。
三分之二（66%）的受访对象表示他们缺少融资方面的信息；半数（45%）人表示很难找到用他们容易理解的语言表达的购房金融信息。
超过四分之三的受访对象（77%）表示在加拿大找到一份与他们在原居住国所接受的教育程度相匹配的工作较为困难。
本次调查中的移民购房者所支付的平均购房价格为$393,000。
http://www.genworth.ca/mi/eng/home_ownership/study_cdn_immigrants_ch.html
Genworth Financial Canada公司2007年度首次购房者调研报告
全文链接(本地)
原文出处
http://www.genworth.ca/mi/eng/downloads/Genworth_First_Time_Homebuyer_Monitor.pdf
