The youngest age group of first-time homebuyers accounts for a large share of purchases in Ontario, according to new data, raising questions about how unaffordable housing actually is in the country’s most populated province.
Amongst solo first-time buyers of condos, those 30 years and younger were responsible for 41.5 per cent of the purchases over the past five years, according to a report by Teranet, the province’s land registry agency. That same age group of solo buyers also accounted for 38.5 per cent of single-family house purchases over the same time period, according to the data.
Teranet called this a surprising trend given the affordability challenges younger buyers typically face in Ontario, and said it may be indicative of financial support from family or other sources.
The y