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Investors made up 20-30% of home purchases during the pandemic: StatCan

Investors made up between one-fifth and one-third of home purchases in 2020, according to new data from Statistics Canada.

In its recently released findings, StatCan reported that investors made up between 20.2% of owners in Ontario and 31.5% in Nova Scotia. The research also examined investment purchases in B.C. (23.3%), Manitoba (20.2%) and New Brunswick (29%).

StatCan defines an investor as anyone from secondary residence owners and landlords to short-term rental owners, developers, for-profit businesses and speculators.

The report attributes the higher investor activity in the Atlantic provinces to the higher proportion of individuals who own secondary parcels of vacant land.

“The proportion of investors who live in the province and own one or two pieces of vacant land in addition to their primary place of residence was 6.7% in Nova Scotia and 7.7% in New Brunswick,” the report noted.

Removing those owners of vacant land, the rate of investors becomes more comparable to the other provinces, falling to 24.8% in Nova Scotia and 21.3% in New Brunswick.

Nova Scotia had the highest proportion of out-of-province investors, making up 1.2% of all purchases. That was followed by B.C. at 1.7% and New Brunswick at 1.6%.

Read the entire article HERE

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