Canadians more determined to own homes in 2025: Survey

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A survey by digital real estate platform, Wahi, has revealed that Canadians are increasingly committed to homeownership in the coming year.

The second-annual Homebuyer Intentions Survey of Angus Reid Forum members indicates that more individuals plan to take steps to purchase a home compared to 2024.

“The message from many Canadians is clear — they’re going to do what it takes to step onto the property ladder,” said Wahi CEO Benjy Katchen. “While lower interest rates and new mortgage rules have improved housing affordability somewhat, many Canadian homebuyers are taking a more proactive approach.”

A total of 52 per cent of prospective buyers plan to cut back on spending, according to the survey, which is an increase from 45 per cent in 2024.

31 per cent of respondents intend to alter their investment strategies, which is up from 21 per cent.

In terms of working longer hours, 30 per cent of respondents say they will do so, compared to 21 per cent last year, with gig work interest rising from 8 per cent to 10 per cent.

A total of 10 per cent are considering side jobs, such as driving an Uber, up from 8 per cent in 2024. Compared to non-first-time homebuyers, Wahi notes that first-time homebuyers are more flexible when it comes to making concessions to afford a home.

The survey indicates that 59 per cent are willing to reduce spending, compared to 47 per cent of non-first-time homebuyers, and 37 per cent are open to changing investments, compared to 27 per cent of non-first-time homebuyers.

When it comes to working longer hours in order to buy a home, a total of 37 per cent of first-time buyers are open to the idea, compared to 24 per cent of non-first-time homebuyers.

A whopping 73 per cent of all prospective buyers are considering different neighbourhoods or types of homes, 57 per cent are willing to consider a different type or style of home, and 55 per cent are comfortable living farther from amenities like schools and shopping.

While almost 17 per cent of Canadians say they will probably buy a home this year, millennials show the strongest buying intentions, with 23 per cent indicating plans to purchase a home in 2025, followed by Gen Z at 20 per cent, Gen X at 18 per cent, and baby boomers at 10 per cent.