Out of Reach Homes: Survey Links High Housing Costs to Potential Ontario Exodus

The high cost of housing in Ontario is driving nearly four out of 10 residents to contemplate leaving the province, according to a recent survey.

This alarming statistic is highlighted in a study conducted by the Angus Reid Institute, which surveyed 4,204 Canadians online last month.

The findings revealed that 28 percent of all respondents were considering relocating due to housing affordability issues.

However, this concern was more pronounced among Ontarians, with 39 percent considering a move, the highest percentage among all Canadian provinces.

Survey Results Indicate Provincial Comparisons

The survey not only focused on Ontario but also shed light on similar sentiments in other provinces.

British Columbia emerged as the second highest, with 36 percent of residents thinking about moving due to housing costs.

Nova Scotia followed, with 25 percent of its residents contemplating relocation for the same reasons.

These figures underscore a broader, nationwide issue of housing affordability, but Ontario’s numbers are particularly concerning.

Potential Destinations for Ontario Residents

For those seriously considering leaving Ontario, the survey identified a range of preferred destinations.

Approximately 26 percent of these individuals are eyeing international locations as their next home.

Alberta and the United States were equally popular among respondents, each attracting 17 percent of the potential movers.

Atlantic Canada also featured on the list, with 14 percent of Ontarians considering a move there.

This distribution suggests a diverse range of destinations being considered, both within Canada and abroad.

Generational and Demographic Insights

A significant generational divide was evident in the survey results.

Younger Ontarians, specifically those aged 18 to 34, were nearly twice as likely (46 percent) to contemplate moving due to housing costs compared to those aged 55 and up (26 percent).

This disparity highlights the greater impact of housing affordability on younger residents, who may be more mobile and less rooted in their current locations.

New immigrants to Canada also showed a higher propensity to consider relocating due to housing costs.

Among those who have been in the country for 10 years or less, 39 percent were contemplating a move, compared to the overall average of 28 percent.

For immigrants who have been in Canada for more than 11 years, the number dropped to 30 percent.

These statistics suggest that newer immigrants feel the financial strain of housing costs more acutely, potentially affecting Canada’s reputation as a welcoming destination for newcomers.

Canada’s Reputation at Stake

The survey’s findings have broader implications for Canada’s international standing.

Historically, Canada has been viewed as a model by the Organisation for Economic Co-operation and Development (OECD) for its successful integration of immigrants.

However, the high cost of living, particularly housing, is causing many recent immigrants to reconsider their decision to stay.

This trend could potentially damage Canada’s image as a hospitable and economically viable option for new arrivals.

Toronto’s Housing Market

The housing market in Toronto, Ontario’s largest city, remains a focal point in the discussion about housing affordability.

Despite a 3.5 percent decrease in the average cost of a home year-over-year in May, the price still stands at a staggering $1,117,400.

This figure underscores the ongoing challenge of affordable housing in one of Canada’s most vibrant urban centers.

Real estate listing website Zoocasa has previously issued a stark warning: all Toronto neighborhoods are expected to reach an average price of $2 million by 2034.

This projection further emphasizes the urgency of addressing housing affordability to prevent a larger exodus of residents unable to cope with rising costs.

Optimism Amidst Challenges

Despite the daunting statistics, there remains a glimmer of hope among Ontarians. T

he survey revealed that 58 percent of Ontario residents are optimistic that housing affordability will improve in the coming years.

This sense of hope, though slightly higher than the national average of 53 percent, indicates a resilience among residents and a belief in potential solutions to the housing crisis.

Survey Methodology

The Angus Reid Institute conducted this survey between June 14 and June 20.

It is important to note that a probability sample of the same size would typically have a margin of error of 1.5 percentage points, 19 times out of 20.

This level of accuracy provides confidence in the survey results and highlights the significant concerns about housing affordability across Canada, particularly in Ontario.

Conclusion

The high cost of housing in Ontario is prompting a significant portion of residents to consider leaving the province, with younger residents and new immigrants feeling the pressure more acutely.

While some remain hopeful for future improvements in housing affordability, the current situation presents a serious challenge.

Addressing this issue is crucial not only for retaining residents but also for maintaining Canada’s reputation as a welcoming and economically viable country for all.