Dream of home ownership alive
and well in Ontario
-But majority of Ontarians
concerned that home ownership
will be more difficult in the
future
Collingwood, April 26, 2011 –
A poll released
today by the Georgian Triangle
Real Estate Board revealed that
the dream of home ownership is
alive and well among Ontario
renters with a significant
majority (70%) reporting that
they would like to buy at some
point in the future.
However, the poll also revealed
that 81 per cent of Ontarians
believe it is more difficult to
own a home than it was for their
parents, and 89 per cent 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 Rob Dubien,
President of the Georgian
Triangle Real Estate Board.
“From job creation to providing
a healthy and stable environment
for raising a family, home
ownership matters to people,
communities and Ontario.
Over half (54%) 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 home
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-Reid.
Home owners also report higher
levels of civic engagement. The
overwhelming majority (82%) of
Ontario home owners has 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 have
volunteered in their community.
“Support for home ownership
means support for strong
communities and a better
Ontario,” said Dubien. “We are
urging all political parties
running in the 2011 provincial
election to commit to making
home ownership more affordable
for Ontarians."
The
Georgian Triangle Real Estate
Board in conjunction with the
Ontario Real Estate Association
(OREA) is proposing three policy
initiatives to strengthen home
ownership in Ontario:
• Increasing the Land Transfer
Tax (LTT) Rebate for first-time
home buyers from $2,000 to
$3,500. First time home buyers
in Ontario pay $1,500 in LTT on
an average resale home.
Increasing the rebate to $3,500
would exempt buyers from paying
any tax on their first home
purchase. Every resale home
purchased in Ontario pumps
$47,575 into the
provincial economy for
furniture, home improvements and
other items. Ontario MLS® sales
generate 80,000 direct and
indirect jobs annually.
• 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
homeowners cope with rising
energy costs and curb greenhouse
gas emissions.
Other
survey highlights included:
• Ninety four per cent of
Ontarians think that owning a
home provides a healthy and
stable environment for raising a
family.
• Ninety three per cent of
homeowners want taxes paid when
buying a home lowered.
• Forty-eight percent of Ontario
homeowners believe that home
repairs/maintenance are the
hardest parts of home ownership
and
• Ninety four per cent of
homeowners believe that the
government should encourage
home-renovation through tax
credits.
• Ninety five of homeowners
think that the government should
provide incentives to reduce
their energy costs.
The survey was conducted by
Ipsos-Reid for OREA’s Home
Ownership Matters campaign. For
more information visit
www.homeownershipmatters.ca.
The Georgian Triangle Real
Estate Board represents 367
brokers and salespeople. Members
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.
To schedule an interview with
the Georgian Triangle Real
Estate Board President please
contact Rob Dubien at (705)
888-0092 or
RobDubien@Rogers.com.
For comment from Ipsos-Reid,
please contact,
Sean Simpson
Associate Vice President
(416) 572-4474
