July 22, 2022:
The steep rise in housing prices has been a significant point of discussion among Canadians in the past two years. With the easing of pandemic restrictions, the increasing inflation rate, as well as interest rate hikes, Narrative Research asked Canadians to weigh in with their predictions concerning the country’s housing market over the next 12 months.
While two-in-ten Canadians feel housing prices will stay about the same, the vast majority are expecting to see housing prices change in the next 12 months (18% and 76%, respectively). Over one-half of Canadians believe that housing prices will increase, while two-in-ten feel that prices will decrease (54% and 22%, respectively).
Regarding price increases, 30 percent of Canadians believe prices will increase by a bit, while one-quarter (25%) estimate that house prices will increase a lot. Sentiments are generally consistent across gender and region, although residents in Quebec and Newfoundland and Labrador are somewhat more likely than those in other provinces to think prices will increase a lot. Older Canadians are also more likely to believe that housing prices will increase a lot,as compared to younger Canadians.
Among Canadians who foresee declining housing prices, most think that prices will decrease a bit, whereas only a few see prices decreasing a lot (18% and 4%, respectively).
These results are from a survey conducted in partnership between Narrative Research and the Logit Group. The survey was conducted online between June 27 and 29, 2022 with 1,230 Canadians 18 years of age or older from the Logit Group’s Canadian Omnibus. Data were weighted based on the 2016 Census, by gender, age, and region to reflect these population characteristics in each province. As a non-probability sample (i.e., a panel sample where residents have joined a panel to share their opinions), and in accordance with CRIC Public Opinion Research Standards, a margin of error is not applied.
The questions asked included the following:
Which video streaming services do you have access to at your household?
Of these streaming services, which does your household pay for?
For more information, please contact:
Margaret Chapman, COO & Partner, Narrative Research – 902.493-3834, email@example.com
Sam Pisani, Managing Partner, Logit Group – 416.629.4116, firstname.lastname@example.org
Narrative Research (www.narrativeresearch.ca), is a leading public opinion and market research company headquartered in Canada. The company was recently certified as a WBE (Women Business Enterprise). As a non-partisan, 100% Canadian-owned research company, Narrative Research is dedicated to providing clients with state-of-the-art research and strategic consulting services.
The Logit Group (https://logitgroup.com/) is a leading North American data collection and market research execution company headquartered in Toronto, conducting large-scale projects for a variety of well-known research agencies and brands. Logit employs industry-best technologies across an array of methodologies, and is independent, experienced and quality-oriented.