Halifax among top cities for Millennial buyers
April 14, 2018
Halifax is among the top five cities in Canada for Millennials planning to buy a home, according to a recent national survey by Point2Point Homes.
The study looked at 85 of the largest urban centres in the country and ranked them under nine factors considered important for Millennials—those aged 18 to 34. The criteria included housing costs, unemployment rate, crime rate, climate, percentage of the population with a bachelors degree or above, percentage of Millennials already living in the city, health-care and the intangible “life satisfaction” criteria.
None of the large cities of Toronto, Montreal, Vancouver or Calgary were in the top 5 and Vancouver was the only big city in the top 10, at number 10, below Trois-Rivieres, Quebec, at number 9.
Halifax edged out Ottawa, ranked number 5, to take the number 4 spot.
“With its highly affordable housing market [average home price is less than $300,000] and low crime rate, Millennials have been powering the housing market, bringing new life into Halifax’s downtown,” according to Point2Point. “The city is experiencing a renaissance in residential real estate, becoming an attractive destination for young professionals.”
The number 1 city for Millennials is Quebec City, followed by Victoria and Guelph in the top 5 locations chosen by the younger homebuyers, according to the Point2Point survey.