Most Canadians believe housing prices will increase: survey

More than half of Canadians think housing prices will increase in the next year, with one quarter believing prices will increase significantly, a recent survey suggests.

A Narrative Research survey that asked Canadians to weigh in with their predictions for the country’s housing market during the next 12 months found that 54 per cent of respondents expect housing price increases over the next year. Of those polled, 25 per cent said they expect a large increase in housing prices.

Meanwhile, 22 per cent of respondents expect prices to drop, with 18 per cent expecting a slight decline in housing prices and four per cent anticipating major drops.

The survey found residents in Newfoundland and

Labrador and Quebec were somewhat more likely than those in other provinces to think prices will increase a lot. Also, older Canadians were more likely to believe housing prices will increase significantly.

The survey was conducted online between June 27 and June 29, with 1,230 Canadians from the Logit Group’s Canadian Omnibus voting.

As a non-probability sample — a sample where residents have joined a panel to share opinions — a margin of error is not applied.