Montrealers still prefer the traditional family home over condo living, according to a new Ipsos Reid survey conducted on behalf of TD Bank.
The survey, conducted from April 27 to May 12, 2006 among 2,125 adults aged 25-59 living in Montreal, Ottawa, Toronto, Calgary and Vancouver asked respondents if they would consider living in a condo if they were planning to start a family and raise children.
In Montreal, 64% of respondents agreed with the statement, "Condos are generally too small for my needs." When asked why they wouldn't want to purchase a condo as their primary residence, the top three responses were "no back yard," (57%), "not enough room" (47%) and "don't want to live downtown" (40%).
"In Montreal, the family home still reigns supreme," said Dominic Escobar, Regional Sales Manager, TD Canada Trust. "However, we've seen housing prices reach historical highs across the country, and attitudes towards condos may change as younger Canadians begin to look for their first homes."
Montrealers aged 25-34 are almost twice as likely to say they would consider raising a family in condominium than are those age 45-59 (15% vs. 8%). Furthermore, 25-34 year olds are the most likely to agree with the statement "living in a condo is suitable for families with very young children" (37% vs. 27% among those aged 35-59).
Montrealers as a whole were the least in favour of the concept of raising a family in a condominium (13%) compared to Vancouverites who were the most open to the idea (28%).
Those polled in Montreal who are likely to consider purchasing a
condominium as their primary residence gave the following as reasons:
- "condos are easier to maintain" (64%)
- "affordability" (49%)
- attracted to the "condo lifestyle" (39%)
- "good starter home" (39%)
"It's not surprising that people in Montreal prefer the space and lifestyle of the traditional home," said Escobar. "However, as condo developers continue to create new projects with more family-friendly features and amenities, I think we can expect to see a rise in the number of Montrealers who choose this option."
About Ipsos Reid
Ipsos-Reid is Canada's market intelligence leader and the country's leading provider of public opinion research. With operations in eight cities, Ipsos-Reid employs more than 300 researcher professionals and support staff in Canada. The company has the biggest network of telephone call centres in Canada, as well as the largest pre-recruited household and on-line panels. Ipsos-Reid's Canadian marketing research and public affairs practices are staffed with seasoned research consultants with extensive industry-specific backgrounds, offering the premier suite of research vehicles in Canada -including the Ipsos Trend Report, the leading source of public opinion in the country - all of which provide clients with actionable and relevant information. Ipsos-Reid is an Ipsos company, a leading global survey-based market research group. To learn more, visit www.ipsos.ca