A third of Quebecers want to move to the country post-COVID-19: survey
MONTREAL -- In a potential post-COVID-19 pandemic world, it seems more Quebecers are looking to enjoy the quiet country life, rather than bask in the busy hustle and bustle of city living.
This is the result of the most recent RE/MAX Real Estate Index, a regional semi-annual survey that analyzes the current real estate market, including whether Quebecers are looking to buy or sell their homes, and where they plan to go.
According to the survey, when asked where their ideal future home would be, one in three Quebecers responded the country, a dramatic jump from spring 2020, when it was one in five.
The survey shows 38 per cent of future homebuyers are now considering the suburbs (down eight per cent) and 33 per cent say they want to move to the country (up 12 per cent).
About 25 per cent say they are looking to buy a home in the city (up three per cent).
"Clearly, the country stands out for a growing share of future real estate buyers, especially older ones," said Marc Cousineau, Vice-President of Marketing at RE/MAX Quebec. "Nearly 50 per cent of respondents aged 45 and over said they want to buy their next home in the country."
He states this data, compared to a previous index poll in the fall, shows more people are heading to the outskirts, but that doesn't mean city homes will stand completely deserted.
Respondents from the Greater Montreal Area state their ideal future home is in the suburbs (38 per cent), followed by the country (31 per cent) and then the city (26 per cent).
"Contrary to commonly held belief since the beginning of the pandemic, this increase is not at the expense of the city, whose popularity increased slightly in the past year," Cousineau noted.
A MARKET ON FIRE
Despite the unpredictability of the pandemic, the survey found that 47 per cent of respondents are still confident they will purchase a home within the next five years. An additional 41 per cent say they plan to sell.
Nevertheless, the pandemic did impact 35 per cent of people, with 29 per cent postponing their sales and six per cent buying earlier than expected.
In addition, half of respondents note they intend to buy a single-family home, while 17 per cent say they are looking for a condo, 10 per cent want a cottage and nine per cent say they would live in an apartment.
The RE/MAX Six Index was conducted by Léger Marketing between March 17 and 28, 2021.
It gathered responses from 1,863 Quebecers in nine regions.
The margin of error is +/- 2.3%, 19 times out of 20.
The next RE/MAX Real Estate Index will be conducted in the fall.