But majority of Ontarians concerned that home ownership will be more difficult in the future
TORONTO, April 20 /CNW/ - The dream of home ownership is alive and well
among Ontario renters, with 70 per cent reporting that they would like
to buy at some point in the future, according to a poll released today
by the Ontario Real Estate Association (OREA).
However, the poll also revealed that 81 per cent of Ontarians believe it
is more difficult to own a home now than it was for their parents, and
89 per cent of Ontarians in general are concerned that home ownership
will become even more difficult in the future.
"We have an obligation to protect the affordability of home ownership
for future generations," said Barb Sukkau, President of OREA. "From its
impact on job creation to the healthy and stable environment it
provides for raising a family, home ownership matters to people,
communities and Ontario.
Over half (54 per cent) of renters cited affordability as a key reason
for not owning a home and 70 per cent surveyed indicated they would be
more willing to consider owning if the government offered more tax
breaks and incentives to offset costs for first time buyers.
"Today's poll is compelling evidence that a majority of Ontarians are
concerned about the affordability of home ownership for themselves and
future generations," said John Wright, Senior Vice President of Ipsos
Home owners also report higher levels of civic engagement. The
overwhelming majority (82 per cent) of Ontario home owners have donated
to charity in the last two years; home owners are much more likely to
say they voted in the last municipal election than renters; and 35 per
cent of owners say they have volunteered in their community.
"Support for home ownership means support for strong communities and a
better Ontario," said Sukkau. "We are urging all political parties in
the 2011 provincial election to commit to making home ownership more
affordable for Ontarians."
OREA is proposing three policy initiatives to strengthen home ownership
An improved Land Transfer Tax (LTT) Rebate for first-time home buyers.
OREA estimates that an improved LTT rebate would save a first-time
buyer of an average resale home almost $1,500.
A permanent Ontario Home Renovation Tax Rebate. A renovation tax rebate
would create jobs and curb the growth of the underground economy.
Reintroduce the Ontario Home Energy Efficiency Retrofit Rebate program.
Investments in home energy efficiency will help home owners cope with
rising energy costs and curb greenhouse gas emissions.
Other survey highlights included:
94 per cent of Ontarians think that owning a home provides a healthy and
stable environment for raising a family.
93 per cent of home owners want taxes on buying a home lowered.
95 per cent of home owners think that the government should provide
incentives to reduce their energy costs.
94 per cent of homeowners believe that the government should encourage
home-renovation through tax credits.
48 per cent of Ontario homeowners believe that home repairs/maintenance
are the hardest parts of home ownership.
The survey was conducted by Ipsos Reid for OREA's Home Ownership Matters campaign. For more information visit www.homeownershipmatters.ca.
OREA represents 50,000 brokers and salespeople who are members of the 42
real estate boards throughout the province. Members of the association
may use the "REALTOR®" trademark, which identifies them as real estate
professionals who subscribe to a high standard of ethics and service.
The findings of the Ipsos Reid online poll conducted February 23 to
March 2, 2011 among 1,519 Ontario adults can be obtained from Ipsos
Reid at http://www.ipsos-na.com/news/. A survey with an unweighted probability sample of this size and a 100%
response rate would have a margin of error of +/- 2.5 percentage
points, 19 times out of 20.
SOURCE Ontario Real Estate Association
For further information:
| To schedule an interview with OREA President Barb Sukkau: |
| Matthew Thornton |
Manager of Government Relations
| For comment from Ipsos Reid: |
| Sean Simpson |
Associate Vice President