Happy with the housing market across Canada

The results of a yearly home ownership review by the Royal Bank of Canada show that overall the majority of residents are confident with the current condition of the housing market.

The nation traditionally has a firm belief in homeownership as opposed to renting in the long term and this ideal has not faltered in the years since the banking crisis of 2007.

When questioned on their mortgage arrangements 85 per cent of homeowners believe they are doing a good job of repaying their home finance and 90 per cent of the taking part in the survey felt confident that real estate in Canada was a thriving business despite a slightly slower level of activity of late.

Nearly a third of those questioned planned to move house within the next two years and more than two thirds agreed that their property value had risen during the last couple of years. One major concern for homeowners is the prospect of rising mortgage payments.