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19% of recent homebuyers own multiple properties: Survey

BNN: 'A new survey suggests nearly one-in-five homebuyers during the pandemic are multi-property owners, with the remaining number evenly split between first-time homebuyers and those upgrading or downsizing to a new home.

'That’s according to the latest RATESDOTCA and BNN Bloomberg survey, which was conducted online from Jan. 7-9 among 1,547 respondents, and which sought to understand who has been buying homes during the pandemic and how they’re funding their down payments. Nine per cent of those respondents said they purchased a home in the last 18 months.

'The bulk of the survey focused on those individuals, and found that 40 per cent of them said they were first-time homebuyers and that the property they were purchasing is their primary residence. Those buyers were overwhelmingly between the ages of 18-34 (65 per cent), while 11 per cent were between the ages of 35-54. Interestingly, 24 per cent were over the age of 55.'

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