For many newcomers, home ownership represents an important milestone in building a life and establishing roots in Canada. Getting there, however, can mean navigating an unfamiliar housing market and mortgage system while finding reliable information to guide one of the biggest financial decisions of their lives.
According to a recent Royal LePage survey, conducted by Burson, four in five Canadian newcomers (80%) believe home ownership is a good financial investment, rising to 86 per cent among those who owned property before immigrating. The vast majority of newcomers (90%) say that home ownership is important to their sense of being established in Canada.
Despite positive attitudes toward home ownership, many newcomers have yet to enter the market. One third (33%) of newcomers say they currently own their primary residence, including some who also own a secondary property, while 66 per cent do not own any property. Of those who do not own, 80 per cent rent their primary residence and 13 per cent live with family or friends, said the report.
"Home ownership has long been a defining goal for Canadians, and for newcomers it can carry added significance as they establish themselves in a new country and community," said Phil Soper, president and CEO, Royal LePage. "They face many of the same affordability challenges as Canadian-born buyers, from saving for a down payment to finding a property that meets their needs and budget. At the same time, they are likely learning an entirely new housing and financial system. Helping them understand the path to home ownership with reliable information is an important part of how our company is supporting newcomers in successfully establishing themselves in Canada."
Highlights:
Nine in 10 newcomers say that home ownership is an important part of feeling established in Canada.
61% of newcomers who intend to buy say saving for a down payment is their biggest barrier, followed by securing more stable or higher-paying employment (50%).
One third (33%) of newcomers own their primary residence; 66% do not own any property.
Before immigrating, nearly two in five newcomers expected buying a home in Canada to be more difficult than in their home country.
More than half (55%) of newcomers who own their home turned to a real estate agent for information about buying a home in Canada.
One fifth of newcomer homeowners say they purchased their first primary residence in Canada using a rent-to-own program.
Ownership rates climb the longer someone has been in the country. Among newcomers who have lived in Canada at least five years but less than a decade, 45 per cent own a home, compared to 22 per cent of those who've been in the country less than five years. By their fifth year after admission, economic-class immigrants report comparable home ownership rates to Canadian-born individuals, according to Statistics Canada, said Royal LePage.
The role of newcomers in Canada's housing market has evolved alongside changes to federal immigration policy. In recent years, Canada has slowed population growth in response to pressure on housing, infrastructure and public services. In October 2024, the government reduced its permanent resident targets for 2025 through 2027, including lowering the 2026 target from 500,000 to 380,000 admissions., it said.
Under the subsequent 2026-2028 Immigration Levels Plan, permanent resident admissions are now set at 380,000 annually through 2028. At the same time, the plan places greater emphasis on transitioning people already living and working in Canada to permanent residency status, including a two-year initiative to accelerate permanent residence for up to 33,000 temporary workers in 2026 and 2027, added the real estate company.
"For someone who has spent years working, studying and contributing to a community in Canada, obtaining permanent residency naturally leads to long-term decisions about where and how they want to live, including buying a home," said Soper. "Canada needs a housing strategy that recognizes both the needs of established residents and those we continue to welcome. Governments at all levels must work together to ensure the supply of rental and ownership housing keeps pace, so that everyone who chooses to call Canada home has an opportunity to find suitable housing."