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Thursday November 20, 2008 |
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 LATEST REAL ESTATE STATS - MONTREAL, QUEBEC |
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| Provided by: Canada Mortgage and Housing Corporation (CMHC) |
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| All stats were derived in 2003. |
| Most (86%) of home buyers in the Montreal-Quebec area are aged from 25 to 54 years old. They are generally couples (71%) [..] whose average age is 40.1 years. |
For all buyers combined, the most frequently cited factor is the wish to have more space. The neighborhood remains the main criterion for their choice. |
Single-family homes are essentially the choice of families, made by 83% of households with children. |
Condominium apartments [..] are the choice of single people. |
Homeowner plexes are purchased by young people (41% aged under 35 years) and people with lower incomes (48% under $50,000) who see the secondary income provided by the rental portion as a way for them to access homeownership. |
Montreal residents less often seek homes that are close to services or near a road network. They are also less inclined to change cities when buying a new property. |
There is little diversity concerning the source of the equity. Sale of the prinicpal residence (34%), personal saving (34%), RRSP Home Buyer's Plan (23%) |
New homeowners spend an average of $11,800 in renovations; however, 73% have a budget under $10,000. |
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| Average purchase prices for homes. |
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| LOCATION | Average Purchase Price |
Montreal | $146,700 |
Montreal - Downtown | $157,400 |
Montreal - Suburbs | $135,200 |
Quebec | $103,200 |
Quebec - Downtown | $115,700 |
Quebec - Suburbs | $ 94,700 |
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| Housing types purchased by Location. |
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| Housing Type |
MONTREAL |
| Total |
Downtown |
Suburbs |
Detached |
48% |
28% |
71% |
Condominium |
19% |
30% |
7% |
Plex |
14% |
21% |
5% |
Semi-detached |
11% |
11% |
11% |
Row |
8% |
10% |
5% |
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