Real Estate Trends: Millennials
Millennials should be a large focus in the Real Estate market as 53% say that their financial fitness is either good or great and 64% say that they have a lot of confidence in their long term financial health. Studies show that 30% of Millennials who do not own a home already plan to buy their first home in the next 2 years!
More and more millennials are looking to settle down and are open to moving to a new city. Two key factors that motivate them to do so is quality employment and affordable housing. There are however, more than just these two factors that come into play when this upbeat generation is looking for a change. Other important factors include socialization opportunities, leisure activities, eco-friendly resources and a safe but fun city with opportunity.
When you think of hot spots for millennials in Canada, you may think of places like Vancouver or Toronto, but surprisingly that is not the case!
Point2homes used criteria categories including housing affordability, unemployment rate, life satisfaction, low crime rate, healthcare, climate, and level of education in order to determine Canada’s up-and-coming millennial hot spots in 2018.
Guelph ranked number THREE out of 85 cities!
Guelph presents itself as an incredible alternative for millennials looking to settle down. Guelph house prices are smaller than Toronto on average and income for millennials is higher. It has a great University, a spectacular food scene, and has an incredible community aspect.