July 16, 2019 3:34 pm
Updated: July 16, 2019 4:23 pm

Online report: Kelowna ties for fifth where Canadians would move to own a home

A view of Kelowna and Okanagan Lake from Knox Mountain Park.

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A recently released online report says Kelowna leads the way when it comes to places where B.C. residents would relocate to own a home.

The report, compiled by Finder, is about housing affordability and where Canadians would consider moving in order to afford a home.

According to the report, which polled 1,200 Canadians, 54 per cent of adults said they would move to buy a home while 46 per cent said they would not.

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Finder is a comparison website that offers details of various products.

Overall, the most popular city Canadians were willing to move to was Toronto — one of the country’s most expensive places to live — with 10 per cent of respondents choosing the nation’s largest city.

Halifax was second at 9.67 per cent, with St. Catharines and Niagara in third (eight per cent) and Ottawa in fourth (7.83 per cent). Kelowna, London and Kitchener (6.92 per cent) tied for fifth place.

The least popular cities were Regina (2.67 per cent), Whistler (2.75 per cent), Windsor (3.5 per cent), Saskatoon (3.58 per cent) and Oshawa (4.08 per cent).

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Regionally, Kelowna was the top place for B.C. residents at 19.66 per cent, followed by Calgary and Victoria (12.82 per cent) as well as Vancouver (11.97 per cent).

The cities where West Coast residents were least likely to move to buy a home were Oshawa (0.85 per cent) and Quebec City and Hamilton (both 1.71 per cent).

Continuing on with regional breakdowns, Kelowna was the second choice (behind Calgary) for Prairie residents. It also ranked 14th for residents in the Atlantic region and 15th for central Canadians.

Further, Kelowna ranked third for those aged 55 to 64 and fourth for those 65 and older.

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“With more than half of the adult population open to moving cities to own their own home, the study suggests that the dream of homeownership is very much alive and well,” said Angus Kidman, global editor-in-chief at Finder.

Kidman added: “Just because a city is popular doesn’t necessarily mean it’s a great place to live. To avoid moving somewhere you’ll regret, consider renting beforehand to see if the areas you like are affordable and if it’s a good lifestyle fit for you.”

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Below are the rankings from Finder.com.

Where Canadians are willing to move to buy a home:

NATIONAL LIST

  • Toronto, Ont.
  • Halifax, N.S.
  • St. Catharines/Niagara, Ont.
  • Ottawa, Ont.
  • Kelowna, B.C.
  • London, Ont.
  • Kitchener, Ont.
  • Montreal, Que.
  • Calgary, Alta.
  • Vancouver, B.C.
  • Victoria, B.C.
  • St. John’s, N.L.
  • Hamilton, Ont.
  • Canmore, Alta.
  • Winnipeg, Man.
  • Quebec City, Que.
  • Edmonton, Alta.
  • Oshawa, Ont.
  • Saskatoon, Sask.
  • Windsor, Ont.
  • Whistler, B.C.
  • Regina, Sask.

REGIONAL BREAKDOWNS

West Coast

  • Kelowna, B.C.
  • Calgary, Alta.
  • Victoria, B.C.
  • Vancouver, B.C.
  • Saskatoon, Sask.

Prairie provinces

  • Calgary, Alta.
  • Kelowna, B.C.
  • Canmore, Alta.
  • Edmonton, Alta.
  • Winnipeg, Man.

Central Canada

  • Toronto, Ont.
  • St. Catharines/Niagara, Ont.
  • Kitchener, Ont.
  • Ottawa, Ont.
  • London, Ont.

Atlantic provinces

  • Halifax, N.S.
  • Ottawa, Ont.
  • Montreal, Que.
  • Toronto, Ont.
  • Quebec City, Que.

The report can be found here.

© 2019 Global News, a division of Corus Entertainment Inc.

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