September 5, 2009


The August Altus Group Report examined census data from 2001 to 2006. The Altus Group found that new home construction continued to be dominated by first-time home buyers. Fully 60 per cent of new homes were purchased through this segment.
Single or non-family individuals continued to grow in importance, while couples with children continued to decline. Non-families now represent 17 per cent of new home purchases, compared to just 48 per cent for couples with children. Within the couples with children segment, which remains the largest buying segment despite its declining share, single detached is by far the most popular type of home, representing roughly 80 per cent of new homes.
The report also examined data from the 2007 Statistics Canada Survey of Household Spending. This revealed that the percentage of buyers who moved down in price (37 per cent) was almost as great as those who moved up in price (31 per cent). The data also showed the median purchase price of first-time home buyers was $220,000, which was 20 per cent less than repeat buyers who registered a median price of $275,000.