More than 70% of home-seekers in Brampton and Mississauga look for houses rather than condos
Published November 2, 2022 at 12:19 pm
Most home-seekers in Brampton and Mississauga seem to be looking for a house rather than a condo.
Although the real estate market has put home purchases out of reach for many buyers, a recent report indicates people in Brampton and Mississauga are still looking for houses.
The just released Point2Homes report aims to “sketch a profile of the Canadian homebuyer in 2022.”
They found that the average home-seeker in Canada is a millennial (ages in the late 20s and early 30s range) using a mobile phone to look for a house of about 1,000 to 2,000 square feet, for between $200,000 and $300,000, with two to three bathrooms and more than three bedrooms, and ideally with a garage and outdoor amenities.
Of course, it would be next to impossible to find any home in that price range in the GTA. And while it is possible to find a home for under $200,000 in some parts of the country, Points2Homes says this is likely “wishful thinking in most of Canada.”
In fact, homebuyers in Brampton more commonly looked for homes priced between a more realistic $900,000 and $1 million. The report found just over 19 per cent of people looked for a home in that price range.
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A Point2Homes chart shows the price range Brampton home-seekers were looking for in 2022.
There are decent homes selling for under $900,000 in Brampton these days.
Most (35 per cent) Brampton home-seekers were looking for a home with three or more bedrooms. They also looked for homes with two to three bathrooms from 1,000 to 2,000 square feet.
About 84 per cent looked for a Brampton home, and only 13 per cent were looking for a condo. Just 2.6 per cent looked for land.
Mississauga home-seekers were slightly different. Just over 73 per cent of people searching in Mississauga were looking for a house compared to about 25 per cent searching for a condo.
Both Brampton and Mississauga have a higher number of people seeking homes compared to the Canadian average which is 62.21 per cent.
The price range was all over the map in Mississauga with a majority of home-seekers looking at places between $500,000 to $1.5 million.
A Point2Homes chart shows the price range Mississauga home-seekers were looking for in 2022.
It is possible to find a home for under $1 million in Mississauga.
Most people (50 per cent) searching for a home in Mississauga were looking for something between 1,000 and 2,000 square feet. And like Brampton, the most popular preference was for more than three bedrooms and from two to three bathrooms.
These preferences are comparable to those across Canada where there was a preference for dwellings with more than three bedrooms (29.31 per cent) and two to three bathrooms (34.76 per cent).
For more information, visit the full Point2Homes report here.
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