Current New Homeowners and Prospective New Home Buyers 2020 Highlights › 82% of new homeowners reported they we re satisfied with their home’s quality of construction › The proportion of new homeowners living in multi-unit homes reached a high of 70% › The biggest housing market concern among both current new homeowners and prospective new home buyers in the next 12 months was economic uncertainty due to COVID-19 (59% and 38% respectively)
CURRENT NEW HOMEOWNERS SURVEY Survey Methodology
The 2020 Current New Homeowners Survey is a province-wide survey of recent purchasers of new or nearly new homes conducted every 2 years. The survey includes the current homeowner profile (age, type of home buyer, length of residency), consumer confidence level about their home purchase, and satisfaction with the quality of construction and building process. In 2020, results are based on a total of 535 surveys from randomly selected owners of homes covered by warranty insurance under the Homeowner Protection Act . A list of homes under warranty insurance was provided by BC Housing, and homeowners were screened to ensure homes were no more than 10 years old and homeowners had lived in their home for at least six months. In total, 6,400 notification letters were sent inviting homeowners to complete an online survey and the survey had an overall response rate of 8%. Changes to the 2020 survey included a question on Indigenous identity, which was added to better understand Indigenous representation among new homeowners. A total of 1.1% of respondents identified as either First Nation, Metis, or Inuit.
Further information on survey methodology is provided in Appendix 1.
30 | P a g e
Made with FlippingBook - Share PDF online