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Poll shows major regional differences in buying, selling patterns for Canadian women homeowners
- Vancouverites much more likely to buy condos than houses - Calgary and Edmonton women split between houses, condos - Toronto women twice as likely to buy condo than house - Family support strong for first time purchasers TORONTO, Feb. 29 /CNW/ - What type of home the individual female homeowner chooses to buy varies widely by region, according to a national poll by TD Canada Trust. Yet wherever they live, the support they receive from family is very strong. When it comes to condominium versus house as a purchase, condos come out ahead on a national basis. 42% of poll respondents choose them compared with 34% for houses. On a regional basis: - Almost three-in-four Vancouver women buyers (73%) purchased a condominium; 11% a house. - In Calgary and Edmonton, the condo/house choice was evenly split, with 31% opting for condos and 33% for houses. - 64% of Prairie women (residents of Winnipeg, Regina and Saskatoon) bought a house as their most recent home purchase. Only 26% bought a condo. - In Toronto, 52% opted for condos and 25% for houses. - 41% of Montreal women poll respondents bought a house. 35% bought a condo. - 57% of Atlantic women chose a house; only 5% bought condos. "When we see that Vancouver women homebuyers are far more likely to buy a condo than women in Atlantic Canada, it becomes clear that price and availability are major decision factors," says Joan Dal Bianco, Vice President, Real Estate Secured Lending. "It would seem that Canadian women are making primarily economic, market-driven decisions regarding the type of home they will live in, rather than basing their decision on maintenance, security or other factors." The poll, conducted in the first two weeks of this year by Ipsos Reid, was among women aged 20 to 45 who have purchased a home as an individual rather than jointly with a spouse or common law partner. Among this group, the average age at which they purchased their first home is 29 years. 82% are single, 80% have no children and 49% have a university degree. The vast majority (86%) still live in the last home they purchased and have made only one home purchase as an individual (81%). When asked how they would characterize the support they received from their family when they told them they were buying their first home as individuals, three-in-four women (74%) across Canada say their family was "very supportive". Only 7% indicate the family was "not very supportive" or "not at all supportive". When asked what would motivate them to sell their home, the reasons vary across the country. "Trading up to a better home" is the top reason on a national basis, with half of women (50%) mentioning it. Regionally, Vancouver and Atlantic women are the most inclined to be motivated by trading up (60% each). Montreal women the least inclined (41%). Across the country, "getting married" was fifth on a list of the top six reasons for selling one's home, with 29% of poll respondents. Women in Toronto (41%), Calgary/Edmonton (40%) and the Prairies (38%) are somewhat more inclined than the national average to cite marriage as a reason to sell. In Montreal, only one-in-ten women (11%) say marriage; in Atlantic Canada, it is one-in-five (20%). "These poll findings portray a young, independent, financially savvy woman homeowner," concludes Dal Bianco. "This is a revolution that will likely change the face of Canadian housing." The online survey was conducted among 713 women living in major metropolitan areas across Canada and reflects the population of Canadian women in these areas aged 20-45 according to 2006 Census data. The margin of error for the total sample is +/-3.7%, 19 times out of 20. About TD Bank Financial Group The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Financial Group. TD Bank Financial Group serves more than 14 million customers in four key businesses operating in a number of locations in key financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust; Wealth Management, including TD Waterhouse and an investment in TD Ameritrade; U.S. Personal and Commercial Banking through TD Banknorth; and Wholesale Banking, including TD Securities. TD Bank Financial Group also ranks among the world's leading on-line financial services firms, with more than 4.5 million on-line customers. TD Bank Financial Group had CDN$435 billion in assets, as of January 31, 2008. The Toronto-Dominion Bank trades on the Toronto and New York Stock Exchanges under the symbol "TD", as well as on the Tokyo Stock Exchange.
For further information: Kelly Hechler, Media Relations, Corporate and Public Affairs, TD Bank Financial Group, (416) 982-2469
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