Survey responses in 2020 were evenly split between first-time home buyers (51%) and repeat buyers (49%). This ratio has fluctuated substantially since the Prospective Homeowners Survey started in 2002.
Figure 44: First-Time Home Buyers and Repeat Home Buyers, 2002-2020
76%
73%
71%
68%
67%
61%
56%
51%
51%
51%
44%
39%
49%
49%
49%
33%
31%
29%
28%
23%
2002 (n=363)
2004 (n=300)
2006 (n=614)
2008 (n=621)
2010 (n=397)
2012 (n=553)
2014 (n=525)
2016 (n=500)
2018 (n=502)
2020 (n=500)
First time buyer
Repeat buyer
Among prospective new home buyers, just over half (58%) already owned a home which was consistent with 2018 (54%). Among all prospective new home buyers, the largest proportion (42%) lived in single detached homes, while around one-third (36%) lived in condominiums and one-fifth (21%) lived in a townhouse or duplex.
Figure 46: Types of Homes Prospective New Home Buyers Live In, 2020
Figure 45: Current Home Ownership Among Prospective New Home Buyers, 2020
42% Live in single detached homes
58% Own homes
36%
42%
39%
58%
21%
Single detached Townhouse/ Duplex Condominium Other
Own
Rent
Other
Base: (n=500)
Base: (n=500)
Prospective New Home Buyers - Purchase Plan Approximately three quarters of (73%) prospective new home buyers reported plans to purchase directly from a developer either before or after construction had finished. As illustrated in the figure below, this proportion has been growing since the survey began in 2002. In total, 40% planned to purchase from a developer after the home is built, 33% planned to purchase from a developer before the home is finished, 16% planned to purchase from a previous owner, and 6% planned to custom build their home.
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