Quebecers could be losing their enthusiasm for home makeovers, as intentions to renovate decrease, RBC survey



    MONTREAL, Oct. 3 /CNW/ - The frenzied pace at which Quebecers have been
renovating in the past appears to be slowing down, according to an RBC/Ipsos
Reid survey.
    According to the 2007 RBC Renovation Survey, renovation intentions among
Quebec homeowners appear to be levelling off, with 64 per cent of Quebec's
homeowners planning to renovate or make home improvements within the next two
years. These results are virtually the same as last year and down five per
cent from 2005.
    "The majority of Quebec home renovators (58 per cent) are
do-it-yourselfers but many still manage to go over budget," said Danielle
Coutlée, manager, Sales Strategy and Support. "It's crucial to get quotes,
investigate financing options and to be realistic about how much the project
is really going to cost."

    
    Quebecers and Home Improvement/Renovations by the Numbers:

    -   Average estimated spend (mean) - $6,861 - the least of all the
        provinces
    -   Most popular major renovation projects for Quebecers - bathrooms
        (31%); kitchens (23%); landscaping and basements (22% each)
    -   Most popular home improvement projects for Quebecers - painting
        (47%); floors (28%); and windows and doors (27%)
    -   Do-it-yourselfers - 58%
    -   Plan to pay for the entire project with cash - 49%
    -   Plan to finance renovations/home improvements with credit cards - 20%
    -   Would definitely continue with their project if house prices were to
        level off - 71%
    -   Renovated in the last two years and did not have any "renovation
        headaches" - 2%

        As far as how Quebec compares to other regions:

    Intentions among Regions                                   Average Spend
    ------------------------                                   -------------
    BC                       70%                                     $11,629
    Alberta                  69%                                     $13,012
    Sask/Man                 75%                                     $ 9,799
    Ontario                  66%                                     $10,495
    Quebec                   64%                                     $ 6,861
    Atlantic Canada          67%                                     $ 7,588

    Those Who Would Consider Borrowing Against Home Equity by Key
    -------------------------------------------------------------
    Demographics
    ------------
    BC                       42%
    Alberta                  42%
    Sask/Man                 49%
    Ontario                  37%
    Quebec                   45%
    Atlantic Canada          44%

    Renovate or Sell/Move
    ---------------------
    Region                   Renovate                   Sell
    ------                   --------                   ----
    BC                       71%                        25%
    Alberta                  75%                        20%
    Sask/Man                 79%                        15%
    Ontario                  72%                        24%
    Quebec                   78%                        15%
    Atlantic Canada          73%                        23%
    

    These are some of the findings of an RBC poll conducted by Ipsos Reid
between August 1st and August 7, 2007. The online survey is based on a
randomly selected representative sample of 3853 adult Canadian homeowners,
including 751 Quebecers. With a representative sample of this size for Quebec,
the results are considered accurate to within +/- 3.58 percentage points, 19
times out of 20, of what they would have been had the entire adult population
of Quebec been polled. These data were statistically weighted to ensure the
sample's regional and age/sex composition reflects that of the actual Canadian
population according to the 2001 Census data.





For further information:

For further information: Raymond Chouinard, Media Relations, (514)
874-6556; For full tabular results, please see the Ipsos Reid website at
www.ipsos.ca; Downloadable graphics also available at www.rbc.com/newsroom


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