{"id":276147,"date":"2023-02-27T19:12:12","date_gmt":"2023-02-27T19:12:12","guid":{"rendered":"https:\/\/wahi.com\/ca\/en\/?p=276147"},"modified":"2023-09-27T19:23:41","modified_gmt":"2023-09-27T19:23:41","slug":"many-gta-homebuyers-give-up-on-their-top-neighbourhoods-survey","status":"publish","type":"post","link":"https:\/\/wahi.com\/ca\/en\/learning-centre\/real-estate-101\/buy\/gta-homebuyers-top-neighbourhoods","title":{"rendered":"Many GTA Homebuyers Give up on Their Top Neighbourhoods: Survey"},"content":{"rendered":"

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More than a third of Greater Toronto<\/a> Area homeowners weren\u2019t able to buy a home in their top neighbourhood of choice \u2014 and affordability issues are to blame, a new Wahi survey suggests.\u00a0\u00a0<\/span><\/p>\n<\/div>\n

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By Josh Sherman\u00a0<\/span>| 3 minute read<\/p>\n

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\u00a0Wahi’s Where to Live 2023 rankings help homebuyers find a neighbourhood that matches their unique preferences.<\/p>\n<\/div>\n<\/div>\n

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What makes a neighbourhood a homebuyer\u2019s top choice? It depends.\u00a0<\/span><\/p>\n

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Some want to be close to lots of green space. Others are looking for short commutes to work. While priorities vary, a substantial portion of Greater Toronto Area homeowners share at least one thing in common when it comes to their top neighbourhood of choice: 38% weren\u2019t actually able to buy their current home there. <\/span>
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<\/span>That\u2019s according to the results of a new Wahi survey of 500 Ontario homeowners. Run by Angus Reid, the survey coincides with the proptech company\u2019s <\/span>Where to Live 2023<\/span><\/a> rankings, which provides a detailed ranking of GTA neighbourhoods to help homebuyers find the best neighbourhoods based on a variety of preferences, <\/span>whether they\u2019re looking for a quiet, family-friendly community, a vibrant, transit-oriented downtown, or anything in between.\u00a0<\/span><\/p>\n

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\u201cWhile people know where they want to live, many had to pick another neighbourhood,\u201d Wahi CEO Benjy Katchen says of the survey findings.<\/span><\/p>\n

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“It\u2019s an affordability issue.”<\/strong><\/span><\/h2>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” locked=”off” global_colors_info=”{}”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” text_font_size=”21px” text_line_height=”1.6em” header_2_font=”||||||||” header_2_font_size=”36px” header_2_line_height=”1.3em” header_3_font_size=”1.25rem” header_3_line_height=”1.88rem” header_4_font=”|700|||||||” header_4_font_size=”1.25rem” header_4_line_height=”1.88rem” global_colors_info=”{}”]<\/p>\n

The issue was most pronounced in the GTA<\/a>. However, provincewide nearly one third (30%) say they had to give up on their top choice when buying the home they live in today. This was especially true for younger homeowners. Among those aged 18 to 34, close to half (46%) had to move outside their top neighbourhood.<\/span><\/p>\n

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Overwhelmingly, price is the main barrier keeping Ontarians from their most desirable neighbourhood. \u201cIt\u2019s an affordability issue,\u201d says Katchen. In fact, 84% of Ontarians who weren\u2019t able to get a home in their most desired neighbourhood said prices were simply out of their budget when they last searched for a place to live. The same is true for GTA residents, who face average home prices that remain far above pre-pandemic levels<\/a> in a number of neighbourhoods despite recent declines in the face of higher interest rates<\/a>.\u00a0<\/span><\/p>\n