Quebec’s youngest adults are leading the charge into the housing market, even as many struggle to afford a home.
That’s one of the key takeaways from a new Léger survey commissioned by the Quebec Professional Association of Real Estate Brokers (QPAREB), the Société d’habitation du Québec (SHQ), and the Fonds immobilier de solidarité FTQ. The findings, based on more than 4,180 responses collected late last year, offer a revealing look at the buying, selling and renting intentions of Quebecers.
Among 18-to-34-year-olds, nearly half (45%) say they plan to buy a home in the next five years. That’s nearly double the rate for those aged 35 to 54, and five times higher than for those 55 and up. What’s more, over half of those younger buyers would be purchasing for the first time.
But ambition alone doesn’t guarantee a mortgage approval. Young Quebecers point to their financial situation (32%), the economic climate (29%), high home prices (25%) and insufficient savings for a down payment (24%) as the biggest barriers.
As a result, many support changes to the system: 62% of renters hoping to buy say raising the Home Buyers’ Plan withdrawal limit would help, while a similar share say allowing 30-year amortizations for insured mortgages would improve affordability. As of April, the federal government did announce an extension to 30-year amortizations for insured mortgages, but limited it to first-time buyers purchasing newly built homes.
There’s also growing interest in the First Home Savings Account, with 58% of first-time buyers saying they plan to use it, up from 46% a year earlier.
Falling rates lift hopes, but not everyone can act on them
Lower mortgage rates appear to be making a meaningful difference for many would-be buyers, with 75% saying recent cuts have positively influenced their decision to purchase.
“For the first time since 2020, the difference between the actual and expected purchase prices has narrowed, indicating a better understanding of market realities—still strongly favouring sellers—and a certain degree of resignation,” said Charles Brant, QPAREB’s Director of Market Analysis.
“The slowdown in inflation and the recent drop in mortgage interest rates have certainly played a role in this shift,” he added. “The prospect of further rate cuts could certainly create new opportunities in the real estate market, as it encourages potential sellers to take action, especially considering that one third of mortgages will be up for renewal over the next 24 months.”
Buyers now expect to pay an average of $457,000 for a home, up 4% from 2023, and nearly two-thirds say they plan to buy an existing property, citing better prices and convenient locations.
The survey also found that selling intentions remain steady, with 14% of homeowners planning to sell in the next five years. Older sellers are mostly motivated by downsizing or preparing for retirement, while younger sellers are looking for more space or a newer home.
Rentals and green choices also playing a role
Environmental concerns are also creeping into housing decisions, the survey finds. While many Quebecers say green factors like energy efficiency or sustainable materials matter, most feel they lack the tools to properly assess them.
“There is still room for improvement in terms of helping [buyers] make informed choices,” noted Fonds immobilier CEO Martin Raymond.
On the rental side, younger tenants overwhelmingly see renting as temporary. Nearly 8 out of 10 respondents (79%) plan to move within five years, and nearly half hope to buy.
Older renters are more likely to stay put, valuing stability and ease. Price remains the top factor in choosing a rental, but many tenants say they’d pay more for amenities like indoor parking, a larger unit or better soundproofing.
Visited 23 times, 23 visit(s) today
Charles Brant first-time homebuyers Fonds immobilier de solidarité FTQ QPAREB Quebec Quebec Professional Association of Real Estate Brokers Regional Société d’habitation du Québec survey young homebuyers
Last modified: June 23, 2025