- Seven-in-ten individual female homebuyers choose condos, one-in-ten
- Main reason to buy: felt it was a good investment
- Main worry is affordability
VANCOUVER, Feb. 29 /CNW/ - When it comes to home ownership, individual
women homebuyers in Vancouver are the most likely in Canada to buy a condo,
according to TD Canada Trust's Women and Home Ownership Poll.
Almost three-in-four Vancouver women poll respondents (73%) bought a
condominium as their most recent home purchase as an individual. 14% bought a
townhouse, 11% a house and 2% other types of housing. None bought duplexes,
triplexes or fourplexes. For all of Canada, the corresponding averages were
42% buying condos, 13% townhouses, 34% houses, 6% and 4% other types of
The findings are part of a national poll by TD Canada Trust that
portrays, on average, the individual Canadian woman homeowner as single,
financially savvy and most likely to purchase a condominium.
"It's no surprise that Vancouver women buying homes as individuals would
opt for condos given the high cost of properties and single family homes in
the city," says Joan Dal Bianco, Vice President, Real Estate Secured Lending.
"For them, condos are often the best way to get their foot in the door of a
red-hot housing market."
The national poll, conducted in the first two weeks of this year by Ipsos
Reid, was among women aged 20 to 45 who have purchased a home as an individual
rather than jointly with a spouse or common law partner. Among this group, the
average age at which they purchased their first home is 29 years. 82% are
single, 80% have no children and 49% have a university degree. The vast
majority (86%) still live in the last home they purchased and have made only
one home purchase as an individual (81%).
The main motivator for individual Vancouver women homebuyers is that it
felt like it was a good investment (65%), followed by a desire to get into the
housing market (57%). Despite the overwhelming choice of condos as their first
home purchase, only one in ten says their main reason is that they wanted a
The vast majority of individual Vancouver women homeowners indicate their
biggest worry before buying their home was affordability and the financial
commitment involved (86%). They tend to be less worried than other individual
Canadian women about assuming such homeowner responsibilities as maintenance
and legal liabilities (39% compared with the national average of 51% on this
question). They are also more likely than women across Canada to be worried
about living on their own (35% versus 20% average).
Respondents were asked what would be the main reason they would sell
their home. For Vancouver women, 60% say they would do so to trade up to a
better home (compared with 50% nationally) and 48% would sell to either gain
more space or change housing type (compared with 41% and 37% respectively for
the national average). Marriage would motivate 28% of Vancouver women surveyed
to sell their homes.
The online survey was conducted among 713 women living in major
metropolitan areas across Canada and reflects the population of Canadian women
in these areas aged 20-45 according to 2006 Census data. The margin of error
for the national sample is +/-3.7%, 19 times out of 20.
About TD Bank Financial Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as
TD Bank Financial Group. TD Bank Financial Group serves more than 14 million
customers in four key businesses operating in a number of locations in key
financial centres around the globe: Canadian Personal and Commercial Banking,
including TD Canada Trust; Wealth Management, including TD Waterhouse and an
investment in TD Ameritrade; U.S. Personal and Commercial Banking through TD
Banknorth; and Wholesale Banking, including TD Securities. TD Bank Financial
Group also ranks among the world's leading on-line financial services firms,
with more than 4.5 million on-line customers. TD Bank Financial Group had
CDN$435 billion in assets, as of January 31, 2008. The Toronto-Dominion Bank
trades on the Toronto and New York Stock Exchanges under the symbol "TD", as
well as on the Tokyo Stock Exchange.
For further information:
For further information: Kelly Hechler, Media Relations, Corporate and
Public Affairs, TD Bank Financial Group, (416) 982-2469