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Article content Call it the space race. The pandemic was supposed to freeze up the real estate market, but it’s turned out to be the opposite, sparking a number of buyer trends, including demand for more space that has shown interest in less urban locales, a new survey shows. We apologize, but this video has failed to load. Try refreshing your browser, or Pandemic spawned new homebuyer trends including shift to less urban lifestyles Back to video The 2021 Scotiabank Housing Poll examined the intentions of Canadian buyers, including Alberta, and it found among other trends what it calls “the Great Migration,” whereby many buyers are seeking to move out of the city to get more for their money. ....
That’s slightly higher than the national average of 62 per cent. “There is a growing segment of the population where this dream of homeownership is starting to fade, and a good portion are giving up on ever buying a home,” says Amit Sahasrabudhe, vice-president of home equity financing at RBC. The survey revealed that, among non-homeowners under age 40 across Western Canada, more than four in 10 had given up on homeownership entirely higher than the national average of 36 per cent. The poll also found many surveyed felt prices would continue to rise in the near-term while a significant number noted they plan to buy sooner than later. Among Albertans, one in three indicated they would likely make home purchase in the next 24 months, with almost one in two convinced housing prices would only rise in the immediate future. ....