Survey Results
Prospective New Home Buyers - Profile 15 Across the survey respondents, approximately one-half (52%) were between 18 and 34 years old, followed by almost one-quarter between 35 and 44 years old (24%), and one-quarter over the age of 45 (24%). This age distribution was relatively consistent with the age breakdown of survey respondents in the 2018 Prospective New Home Buyers Survey.
Figure 42: Age Distribution of Prospective New Home Buyers, 2020
Figure 43: Household Income Distribution of Prospective New Home Buyers, 2020
4%3%
13%
42% Have a household income of $100K + more
52%
38%
42%
24%
12%
12%
Less than $50,000
$50,000 to less than $100,000
18-34
35-44
45-54
55+
$100,000 to less than $200,000 $200,000 or more Prefer not to answer
Base: (n=500)
Base: (n=500)
Among prospective new home buyers, around half reported having annual household incomes of less than $100,000 (55%) while just over 40% reported an annual household income of $100,000 or more (42%). Since 2016, there has been a substantial increase in the proportion of survey respondents with more than $100,000 per year in household income (42% in 2020, 31% in 2018 compared to 19% in 2016). Consistently, there has been a decrease in respondents reporting household incomes of less than $50,000 per year, falling from 28% in 2016, to 20% in 2018, to 13% in 2020. The proportion of households with income between $50,000 and $100,000 has remained stable over the same timeframe.
15 BC residents considering buying a newer home in BC built under the Homeowner Protection Act (i.e., less than 10 years old) in the next year or so.
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