65 per cent of YPs surveyed say they would purchase a “less ideal” home, or rent to be closer to work

This is part 3 of a 3 part release on Young Professional in Toronto.  View part 1 View part 2

Release

TORONTO, ON—

Getting to work quickly and easily is young professionals’ (YPs) top priority when considering where to live according a survey on YP perceptions of the Toronto region’s housing market conducted by Environics Research and released today by the Toronto Region Board of Trade. Critically, while 65 per cent of YPs surveyed say they would purchase a “less ideal” home, or rent to be closer to work, 77 per cent would consider living further away if they had better access to public transit.

 

Key survey findings include:

  • 76 per cent ranked commute to work the most important factor overall
  • 59 per cent selected proximity to amenities such as parks, community centres and grocery stores
  • 53 per cent selected cost of living
  • 47 per cent selected access to higher order transit
  • 32 per cent selected living in a community I identify with fifth most important overall

An infographic displaying the survey results is available for download on bot.com.

TRBOT YP Infographic Part 3

Of the more than 800 YPs between the ages of 18 and 39 in the Toronto region who responded to the survey:

  • 44 per cent use transit such as the TTC or GO Transit and have an average 42-minute one-way commute
  • 31 per cent rely on private vehicles and have an average 37-minute one-way commute
  • 25 per cent use active transportation such as walking and cycling and commute on average 21-minutes one-way

This survey was conducted by Environics Research Group for the Toronto Region Board of Trade and sponsored by Options for Homes and the Toronto Real Estate Board. Last week the Board published the first in a series of three results focused on Toronto region YPs’ insights into the regions housing market with a particular lens on YPs’ concerns that at today’s prices & rents, housing is coming at the expense of their ability to repay debt and save for retirement. The survey is a follow-up to the results from Environics’ bi-annual Focus GTA survey asking 387 YPs in the GTA about their aspirations of home ownership.

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