QUEBECERS THINK LONG TERM WHEN PURCHASING HOMES ACCORDING TO ROYAL LEPAGE
QUEBEC SURVEY

Results showing most of them will hold on to their property for over fifteen years stresses the
importance of good planning and expert advice

MONTRÉAL, Nov. 2 /CNW Telbec/ - Nearly half of all Quebecers have only owned one home throughout their lives and most of them will keep this home for over fifteen years, according to the Royal LePage Quebec Survey commissioned by Royal LePage Real Estate Services and conducted by Angus Reid Public Opinion. The main reasons that motivate Quebecers to purchase a property is the desire to stop renting as well as to make a profitable long term investment.

According to the survey, 71 percent of adult Quebecers will own at least one home and close to half of all adult Quebecers (46 percent) have owned one home.

"Real estate purchases are often the largest investment decision someone can make. If Quebecers want to stay in one home throughout their lives, finding the best real estate advice is absolutely necessary to avoid disappointment. There are so many important factors to consider. Buyers in their 20s have different priorities from buyers in their 50s. An experienced real estate advisor can help a buyer find the right home that will meet their changing needs," says Dominic St-Pierre, Director of Real Estate  Services, Royal LePage for the Quebec region.

When surveyed about the number of years they intend on spending in the next home they purchase, 41 percent of Quebecers plan on staying there for a long time (over 15 years), 16 percent from 10 to 15 years, and 26 percent from 5 to 10 years.

As for the reasons behind the purchase of a first home, the study shows that  29 percent of Quebecers would like to stop renting and that 17 percent feel it is a good investment. However, a high number of Quebecers (38 percent) do not intend on becoming owners for the moment and would rather continue to rent.

"It is surprising to note that some Quebecers do not plan on purchasing a home, even though it is an excellent long term investment. As well, low interest rates do not seem to be the main incentive. Residents of Sherbrooke/South Shore and Hull-Outaouais are more likely to consider buying a property to stop renting, while Laval/Laurentians and Montreal residents are mainly driven by the desire to make a profitable long term investment," explains St-Pierre.

When Quebecers choose to upgrade their properties, the survey shows that 51 percent of Quebecers will do it for a more luxurious house, 26 percent because their family is getting bigger and only 4 percent will do it to take advantage of low interest rates. Grown children leaving home was the number one reason (52 percent) of those looking to downgrade their next property.

"Luxury is apparently a coveted criteria for Lac St-Jean/Chicoutimi and Laval/Laurentians residents, when it comes to the purchase of a larger property. It also appears that residents of the Hull-Outaouais region are driven by their desire to have more space for a growing family," highlights Dominic St-Pierre.

Royal LePage Quebec Survey

Number of homes owned
Market	One	Two	Three	Four	Five	I never  owned a  home	I have owned   a home
Lac St- Jean/Chicoutimi	53 %	12 %	7 %	1 %	2 %	25 %	75 %
Hull-Outaouais	42 %	14 %	9 %	9 %	0 %	26 %	74 %
Sherbrooke/South Shore	49 %	12 %	6 %	4 %	2 %	27 %	73 %
Montreal	39 %	15 %	6 %	2 %	2 %	36 %	64 %
Quebec	45 %	7 %	3 %	5 %	6 %	33 %	67 %
Laval/Laurentians	51 %	14 %	6 %	4 %	2 %	23 %	77 %
Total	46 %	13 %	6 %	4 %	3 %	29 %	71 %

Motivations to buy next (or first) home
Market	Low  interest  rates	Good  investment	Don't want to   rent anymore	Will   continue   to rent	Others
Lac St-Jean/Chicoutimi	0 %	11 %	26 %	51 %	11 %
Hull-Outaouais	8 %	14 %	36 %	40 %	2 %
Sherbrooke/South Shore	7 %	7 %	36 %	40 %	9 %
Montreal	4 %	27 %	25 %	34 %	10 %
Quebec	4 %	12 %	27 %	45 %	11 %
Laval/Laurentians	9 %	26 %	30 %	22 %	13 %
Total	5 %	17 %	29 %	38 %	10 %

Number of years in next (or first) home
Market	Less  than 3  years	3 to 5 years	5 to 10 years	10 to 15   years	More than  15 years
Lac St- Jean/Chicoutimi	14 %	6 %	15 %	11 %	54 %
Hull-Outaouais	0 %	30 %	31 %	36 %	3 %
Sherbrooke/South Shore	4 %	22 %	19 %	11 %	43 %
Montreal	5 %	8 %	34 %	20 %	33 %
Quebec	0 %	3 %	24 %	16 %	56 %
Laval/Laurentians	8 %	7 %	21 %	8 %	55 %
Total	5 %	12 %	26 %	16 %	41 %

Motivations to upgrade
Market	Low  interest  rates	Moving to a   bigger / luxury   home	Growing  family	Others
Lac St- Jean/Chicoutimi	0 %	83 %	17 %	0 %
Hull-Outaouais	0 %	22 %	40 %	38 %
Sherbrooke/South Shore	5 %	47 %	33 %	15 %
Montreal	7 %	51 %	24 %	19 %
Quebec	5 %	35 %	26 %	34 %
Laval/Laurentians	0 %	69 %	18 %	12 %
Total	4 %	51 %	26 %	18 %

Motivations to downsize
Market	Space no longer   needed/grown    children	Reduce    mortgage    payments	Release equity in home for  other investments	Others
Lac St- Jean/Chicoutimi	69 %	14 %	4 %	14 %
Hull-Outaouais	75 %	3 %	0 %	22 %
Sherbrooke/South Shore	55 %	4 %	7 %	34 %
Montreal	43 %	6 %	5 %	46 %
Quebec	38 %	14 %	19 %	29 %
Laval/Laurentians	47 %	10 %	9 %	33 %
Total	52 %	8 %	7 %	33 %

Methodology
From September 21 to September 23, 2010, Angus Reid Public Opinion conducted an online survey among 800 randomly selected adult Quebecers. The margin of error—which measures sampling variability—is +/- 3.5%. The results have been statistically weighted according to the most current education, age, gender and region Census data to ensure a sample representative of the entire adult population of Quebec.

About Royal LePage
Royal LePage is Canada's leading provider of franchise services to residential real estate brokerages, with a network of nearly 14,000 real estate professionals in over 600 locations across Canada. Royal LePage is the only Canadian real estate company to have its own charitable foundation; the Shelter Foundation which is dedicated exclusively to funding women's shelters and violence prevention and education programs. Royal LePage is managed by Brookfield Real Estate Services. An affiliated company, Brookfield Real Estate Services Fund, is a TSX listed income trust, trading under the symbol "BRE.UN."

For more information visit www.royallepage.ca or www.brookfieldres.com

For further information:

Valérie Dupuis
Fleishman Hillard Inc.
514-892-8005
[email protected]

Tammy Gilmer
Director, Public Relations and National Communications
Royal LePage Real Estate Services
416 510-5783