40% of new Canadians consider moving due to housing costs

Article content

Nearly 40 per cent of new immigrants to Canada are considering moving to another province or leaving the country because of lack of housing affordability, a recent survey by the Angus Reid Institute found.

Article content

“If you’re a young person who’s come to Canada in the last ten years and is renting a place in one of Canada’s largest cities, you know that life isn’t very happy right now,” said Shachi Kurl, president of Angus Reid.

Thirty-nine percent of immigrants who arrived in Canada in the last ten years are considering moving, with 25% citing the cost of housing as the most important factor. Among the rest, seeking a better quality of life is the most important factor, along with other factors such as cost of living, access to health care and proximity to family.

According to the survey, 28 per cent of Canadians are considering leaving their province of residence because of rising housing costs. Most live in Ontario (39 per cent) or British Columbia (36 per cent), where housing costs have been high for longer than in other regions.

Article content

In Canada, 42% of young people aged 18 to 24 say they are considering leaving their current province. Renters are more likely to consider moving than those who own their home, with or without a mortgage, according to the survey.

Canada’s annual immigration target is about 500,000 people, making it one of the highest in the world relative to population.

Among those who want to move but stay in Canada, the survey found the majority — 18 per cent — said they would like to move to Alberta.

“We can assume that people who are considering moving to Alberta feel that housing is more affordable in Alberta, or that it is more available or abundant in Alberta, or that the jobs available to them in the province will allow them to meet the cost of living,” Kurl said.

Article content

According to a recent BMO report, net interprovincial migration from Toronto, Montreal and Vancouver collectively totaled more than 130,000 people between 2022 and 2023.

The Angus Reid Institute surveyed a randomized representative sample of 4,204 Canadian adults between June 14 and 20. For comparison purposes only, a probability sample of this size would have a margin of error of +/- 1.5 percentage points, 19 times out of 20.

Bookmark our website and support our journalism: Don’t miss out on the business news you need to know: bookmark financialpost.com and sign up for our newsletters here.

Article content