New study shows the extent of the Ontarians’ relocation intentions

New study reveals the extent of Ontarians

Almost half (44%) of home-based Ontarians said they thought about moving during the pandemic year, but a much smaller proportion (18%) are expected to do so, according to a new survey by Right at Home Realty actually does in practice.

Additionally, the majority (69%) of Ontarians said the COVID-19 pandemic did not consider relocation plans, while only 3% said they will move “as a direct result of the pandemic”.

“While working the pandemic from home is undoubtedly having an impact on the housing market, we believe calls for a significant exodus from larger city centers and drastic shifts in urban housing dynamics during and after the pandemic are overrated,” said John Lusink , President of Home Direct Realty. “The vast majority of Ontarians have no plans to move or change the locations of the cities because of this new dynamic.”

Continue reading: CIBC: In the current environment, homeowners prefer to stay there

Proximity to work is another factor that forces Canadians to keep up to date. 42% of respondents believe that moving from a major urban center could hurt their career opportunities.

“Career growth remains a priority for many urban professionals as they fear they will not find the same job opportunities in smaller urban areas of the province,” added Lusink. “New dynamics sparked by the COVID pandemic are causing homeowners to juggle and rethink their priorities to find a better work-life balance.”

Only a quarter of respondents looking to sell their homes in the next year would consider moving to another neighborhood in the same city. Around 39% of those looking to sell in the next two to three years said they would buy a home with more space, versus 33% who plan to downsize.