Ontario's Housing Market Drives Residents to Relocate
Toronto and Ontario are becoming less popular living options due to expensive housing costs. A recent survey by the Angus Reid Institute on interprovincial migration highlights that more Ontario residents are contemplating moving elsewhere than residents from any other province in Canada.
Key Findings
The survey reveals that 39% of Ontarians are seriously considering leaving the province due to high rent and real estate prices. This dissatisfaction is significantly higher compared to other provinces, ranging from 15% in Saskatchewan to 36% in British Columbia. Among those considering relocation, 45% prefer to stay within Canada, while 15% are considering a move to the U.S., and 27% are exploring opportunities abroad. Uncertainty remains for 12% of respondents regarding their future relocation plans.
Additional Considerations
Beyond housing affordability, 8% of Canadians are contemplating moves for a better quality of life, 4% for improved healthcare access, and another 4% for a lower overall cost of living. Renters are notably more inclined to seek affordable housing alternatives, despite slightly lower optimism about the housing market's future compared to homeowners. While 51% of renters hope for improved housing affordability, 52% of homeowners with mortgages share this sentiment, with even higher optimism (60%) among mortgage-free homeowners.
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