First-time homebuyers have accounted for about one in every two homes sold in Canada in the past two years – with more than a quarter of a million sales per year across the country – says a new report.
A housing report by the Altus Group, an economic consulting firm, says the majority of first-time buyers are in the under 35 age group, with the 25-34 segment alone accounting for six out of every 10 first-time buyers.
Many first-time buyers are more ‘mature’ with about one in four aged 35-49 years old.
The report says more than one-fifth of first-time buyers purchased a newly-built home. Of these, about one in three opted for a condominium unit.
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