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• On Jan. 16, BCFSA confirmed B.C. Realtor, Ismail Jamal Jinnah, lost his license and was fined $10,000 after investigators found he manipulated a “vulnerable” client into selling her home.
• The investigation revealed Jinnah exploited a close personal relationship, pressured the client against her wishes and misled regulators about the nature of their relationship.
• In addition to the fines and license cancellation, Jinnah has been ordered to pay $67,000 in enforcement expenses.

A B.C. Realtor has lost his license and is facing a $10,000 fine after the province’s regulator found he manipulated a client into selling their home.

Ismail Jamal Jinnah behaved in a “predatory” manner when he took advantage of his personal relationship with a client to convince her to sell her home and earn an “above-market” commission, according to a December decision from the BC Financial Services Authority (BCFSA).

Summary of misconduct

The case centred on two real estate transactions in 2015. Jinnah established a “close, personal relationship” with a client who owned a detached home and despite her opposition, repeatedly pressured her to sell it, advising her it was a smart financial move. Jinnah failed to disclose his personal relationship with the client and convinced her to switch properties with another individual.

According to hearing documents, Jinnah’s client “trusted him, relied upon him, and was reasonably left with the impression that Mr. Jinnah was looking out for her best interests. Rather than looking out for her best interest, Mr. Jinnah refused to accept that (she) did not want to sell her house. He pressured and manipulated her to essentially switch properties…”

Hearing Officer Thelma O’Grady says the former Realtor took advantage of his client, “who, because she was in a close relationship with him and trusted him, was vulnerable. This type of behaviour can only be described as predatory.”

The decision also highlighted Jinnah’s financial gains, which totalled $39,000 in commissions. Additionally, he charged above-market fees without sufficient explanation and failed to adequately market the property, instead selling it directly to the second individual involved.

Investigation and regulatory violations

During a subsequent investigation in 2021, Jinnah attempted to mislead the regulator by mischaracterizing his relationship with the client. The decision emphasized the deliberate nature of his deception, “Mr. Jinnah’s statements… were a deliberate attempt… to mislead the investigative process.”

Jinnah was found guilty of breaching multiple sections of the Real Estate Services Rules and the Real Estate Services Act (RESA).

Impact on client 

The misconduct, described by O’Grady as “very serious,” involved Jinnah’s failure to act in the best interests of his client, a breach of conflict-of-interest rules and a deliberate attempt to mislead regulators during the investigation. “Taking advantage of a vulnerable client who is relying on you to act in their best interest is one of the most serious types of misconduct for a real estate licensee,” the decision states.

The decision also noted the emotional and financial harm caused to the client, who suffered anxiety, depression and embarrassment “for letting herself be coerced by Mr. Jinnah.”

“The actions of Jinnah to use a close personal relationship to manipulate a client into selling their home is unacceptable and demonstrates a clear disregard for the established ethical expectations for licensees and the regulatory regime that is designed to protect consumers,” said Jon Vandall, senior vice president of compliance and enforcement at BCFSA. “This behaviour was so predatory and egregious, BCFSA is issuing the maximum penalty available.”

Fines and penalties 

In addition to cancelling Jinnah’s licence and the $10,000 penalty, Jinnah was also ordered to pay more than $67,000 in enforcement expenses.

“Sanctions should be both protective and preventative,” O’Grady wrote. “They should be aimed first and foremost at achieving compliance and secondly at deterring repeat offences… and by others in the industry or by those considering entering the industry.”

Although Jinnah hasn’t practiced real estate since March 2024, BCFSA confirmed his license had been cancelled on Jan. 16. and that the misconduct would be reflected in his professional record.

Implications for the real estate industry

“Public interest is served by setting a penalty that communicates to Mr. Jinnah, the public, and other licensees that it is unacceptable for licensees to take advantage of clients and to mislead the regulator during an investigation,” O’Grady concluded.

Jinnah has the right to appeal the decision within 30 days.

Many of us have a love/hate relationship with change. Brace yourself. Among the latest disruptors attempting to flip the residential real estate industry on its head is Hyyve, a soon-to-be-launched Toronto-based platform where Realtors bid on residential listings, competing with other agents in what’s essentially a bidding war to get clients. 

Yes, you read that right. Agents pay upfront for the right to list a property. 

 Sellers keep the cash, regardless of the outcome

What’s more, homeowners get to keep the cash the winning agent bid, even if the property doesn’t sell.

Although bidding for listings won’t be everyone’s cup of tea, “It gives you a direct line to sellers who want to go to market,” points out Toronto boutique brokerage agent Dorian Rodrigues, who recently signed up. “It’s another way to generate business…and will inspire agents to put more resources towards the listing.”

The platform, the first of its kind in Canada, is currently taking agent registrations and is expected to launch in time for the spring market. If all goes well, the plan is to expand across the country. 

Not a brokerage, but a bold industry disruptor

Not to be confused with a brokerage, this is a system designed to disrupt the way sellers choose a Realtor, with an added incentive for them in the form of bid cash from the agent in advance of a sale. For agents, it’s a different twist on lead generation. The expectation is that this seller-friendly approach may appeal most to tech-savvy, cash-pinched younger sellers in their 30s and 40s, who may not have strong established connections with a Realtor. 

Agents must pay a monthly subscription fee to place bids on Hyyve (reportedly a few hundred dollars per month on average).

Weighing the pros and cons

Potential pros and cons are being weighed up by industry experts. Re/Max Canada president Christopher Alexander thinks that the Hyyve platform is likely to be a complement to the industry, providing more choice for sellers. But he adds that the risk that some homeowners on the platform might “prioritize agents based solely on price” rather than on expertise could be problematic.

Patrick Armstrong, who co-founded Hyyve along with fellow entrepreneur Kirstin Thomas, agrees that’s a valid concern. But the platform is designed “to encourage sellers to consider overall value rather than just price,” he insists. 

“Listings are inherently valuable and are something that should be monetized and controlled by the home seller,” Armstrong maintains.

He adds, “We don’t typically label ourselves as industry disrupters.” 

Almost everyone else does though. 

With Hyyve, Armstrong asserts, agents gain access to a wider client base and high conversion listings, while “sellers benefit from upfront cash, better agent competition and increased transparency.”

Transparency is what attracted registrant Leo Naiman, co-owner of a Toronto flat-fee brokerage. “Too many details are unclear in a regular deal,” in his view. “I’m all for any move towards more transparency in the industry.”  

 A draw for sellers and Realtors?

Here’s how the platform works. Sellers upload their property details free of charge. Then agents can submit detailed bids that give a comprehensive description of their credentials, sales plan, and the services they’ll provide—marketing, staging, perks, terms, etc.—along with the commission and bid amount they’re offering to secure the listing. (Agents can’t see each other’s bids.) 

Homeowners choose the best bid for their purposes based on this information. The expectation is that sellers won’t necessarily just go for the agent offering the highest bid and lowest commission, but instead will focus on who’s most likely to move the listing. But that decision is entirely up to the homeowner. Armstrong points out though, that “agents who overbid and under-perform will quickly lose credibility.”

He’s aware that the open bidding process means Realtors “may face stiff competition, especially from well-established agents or large teams with greater resources.” But he believes the Hyyve app can also be a boon for newer agents, allowing them to “stand out by offering creative bids, detailed sales plans and additional services that differentiate them.” 

Hyyve takes a cut 

Once a bid is accepted and certain conditions have been met to ensure that it’s legit, Hyyve takes its full commission of 30 per cent from the winning bid amount. The rest goes to the homeowner. For instance, Armstrong explains, if an agent’s successful bid is $1,000, Hyyve—which doesn’t touch the agent’s commission—takes $300. The remaining $700 goes to the homeowner upfront.

Hyyve’s job is then done and the listing falls into the regular system.

Sellers potentially stand to make much more than this. Armstrong says that in countries where similar marketplaces exist, research shows that listings can earn up to 0.65 per cent of the expected sale price. That’s $6,500 on a million-dollar home. 

On the platform’s website, it’s noted that agents in these competitive bidding situations often reduce their commission and offer additional services. That’s encouraging news for sellers, not so much for agents.

 It’s true that homeowners can keep the bid cash even if the property doesn’t sell, although there are stipulations to protect the agent from seller non-compliance. Armstrong explains that if the homeowner breaches the listing agreement by such actions as failing to facilitate showings, not cooperating or trying to fire the agent without cause, “they forfeit the bid cash” and the agent is refunded.

Safeguarding against misuse 

As for the potential issue of a client repeatedly listing the same home with Hyyve just to collect bid amounts, the platform does its best to prevent this by such measures as monitoring listing patterns and having clients meet strict eligibility criteria, says Armstrong. 

“If a seller repeatedly lists without genuine intent to sell, they can be barred from the platform.”

Cloud-brokerage Realtor, podcaster and REM columnist, Daniel Foch believes that Hyyve is a “game changer,” giving agents a centralized place to compete while providing clients with a consumer-first approach.  

He recently became a member of Hyyve’s advisory panel. His reasons?

“I want to be part of anything disruptive in real estate.”

Metro Vancouver’s residential market in 2024 proved to be a mixed bag, falling short of optimistic forecasts set earlier in the year by Greater Vancouver Realtors (GVR). While some gains were seen, they didn’t reach expectations, leaving some market watchers reassessing their expectations for 2025.

Missed sales targets

GVR released its H1 forecast for 2025, including a look at how 2024’s market compared to its forecast. At the start of last year, optimism was high. GVR predicted an 8 per cent increase in sales compared to 2023, with projections reaching 28,250 transactions by year-end. Ultimately the market closed the year with 26,561 sales, a 2 per cent rise over the previous year. The momentum, initially driven by reduced borrowing costs, faltered in the summer, curtailing overall performance.

Price gains under pressure

Similarly, price growth failed to reach expectations. The average residential price was forecasted to rise by 3 per cent in 2024, reaching  $1,320,000. Instead, the actual increase was half that—1.5 per cent, with the year-end average price settling at $1.3-million. Early gains in the year were eroded by growing inventory levels and weaker-than-expected sales.

“Despite numerous cuts to the Bank of Canada’s policy rate and subsequent reductions to borrowing costs throughout 2024, supply continued to outpace demand by year-end, eroding, but not fully erasing, the price gains which began the year,” the report notes.

Looking ahead to 2025

With 2024’s shortfalls as a backdrop, GVR’s forecast for 2025 maintains cautious optimism. Key drivers such as population growth, household formation and lower borrowing costs are expected to support the market. Political and economic uncertainties—including potential U.S. trade policies pose a risk to the housing market

Risks and wildcards

GVR’s modeling suggests that based on “preliminary analysis” proposed U.S. tariffs on Canadian goods, if implemented, could create a drag on sales activity. The impact is expected to be short-lived, and “any negative impacts to home prices are likely to be modest and would most likely arise through the (potential) reduction in sales activity, rather than through any direct impacts arising from the tariffs themselves.”

Canada’s inevitable federal election could also derail GVR’s outlook for the region. “Political turmoil at the Canadian federal level along with the potential for a new Conservative government could yield policies negatively impacting the housing market, though new policies could also positively impact the market as well.”

Outlook for 2025

GVR economists see improved momentum heading into 2025 compared to last year, with lower borrowing costs anticipated to support demand.

“Our price forecasts for 2025 are again similar to those we expected in 2024, however the market now has the benefit of significantly lower borrowing costs to start the year than were available in 2024, which we believe should provide the necessary stimulus to reach our 2025 price forecasts.”

Residential sales are expected to reach 30,250—a 13.9 per cent increase over 2024, while the average home price is projected to grow 4.1 per cent—reaching $1,354,000. 

As with most forecast’s, GVR’s outlook for the year comes with a key caveat: a stronger-than-expected economic recovery could accelerate sales and price growth, while heightened inventory levels or recessionary pressures could dampen performance.

More Ontario Realtors now have access to more data as the PropTx MLS database expands to include listings from most boards in the province. 

PropTx, a wholly-owned and for-profit subsidiary of the Toronto Regional Real Estate Board (TRREB), promises members access to a centralized MLS, a long-standing priority among Realtors, according to TRREB CEO John DiMichele. 

“This has been a strategic focus, and through the creation of PropTx, was a key mandate for the organization,” says DiMichele. “The participating boards and associations were essential collaborators, recognizing that working together benefits all Realtors. A unified MLS database ensures consistency and continuity as it matures.”

Participating boards and associations currently have access to the PropTx MLS system, with the final stages of data transition underway. DiMichele explains several enhancements are expected in the first quarter of 2025, including expanded mandatory fields and the integration of pre-populated external data sets. These updates are based on feedback from participating boards and new users of the platform.

Participating boards and associations

The following boards and associations are part of the PropTx MLS collaboration:

• Toronto Regional Real Estate Board (including the former Brampton Real Estate Board)
• Central Lakes Association of Realtors (including Durham, Quinte, Northumberland, Peterborough, and Kawartha Lakes)
• London and St. Thomas Association of Realtors
• Niagara Association of Realtors (NAR)
• Kingston & Area Real Estate Association (KAREA)
• Timmins, Cochrane & Timiskaming District Association of Realtors
• Ottawa Real Estate Board
• Cornwall & District Real Estate Board
• Renfrew County Real Estate Board
• Rideau-St Lawrence Real Estate Board
• Oakville, Milton & District Real Estate Board (OMDREB)
• One Point Association of Realtors (formerly Lakelands, Guelph & District, Huron Perth, and Grey Bruce Owen Sound)
• Woodstock, Ingersoll Tillsonburg & Area Association of Realtors (WITAAR)
• North Bay & Area Realtors Association (NBARA)

DiMichele explains that through PropTx, members of these associations have access to more data than ever before, and that will expand as new features are introduced.

“The move towards a single MLS database creates incredible efficiencies for Realtors, both in the operation of their business as well as in the cost of operating their business,” DiMichele says. “The move towards a single MLS database reduces the need for interboarding MLS listings as well as paying for multiple real estate board and association memberships.”

TRREB’s CEO calls PropTx a for-Realtors-by-Realtors solution, “The long-term strategic goal of PropTx is to continue to offer a range of best-in-class tools, insights, and applications to improve the transaction experience for realtors and the clients they serve efficiently and effectively.”

Impact on ITSO

More boards transitioning to PropTx marks a shift for the Information Technology Systems of Ontario (ITSO), a not-for-profit corporation established in 2020 with the primary goal of creating a unified MLS.

Geoff Halford, ITSO chair, says the organization was initially created to increase access to MLS data through the operation of a regional MLS System when associations were not ready to amalgamate but wanted to share data. Halford says this purpose may no longer be relevant.

Member boards such as KAREA, NAR, OMDREB, NBARA, WITAAR, and OnePoint are leaving or have left ITSO in favour of PropTx.

Halford acknowledges the evolving landscape and its potential impact. “We are proud of the success we had creating a regional system that at its peak brought together 23 real estate associations and more than 24,000 users who had access to data from 29 of the real estate associations in the province, but we also understand that the landscape is quickly changing,” he said, adding  ITSO remains committed to supporting its current member associations, ensuring that the system continues to meet their needs.

“We are disappointed that a solution could not be arranged with TRREB that would have fostered competition in the MLS services market…” Geoff Halford, ITSO chair

ITSO will operate its MLS system for its remaining three member boards, the Barrie & District Association of Realtors (BDAR), Brantford Regional Real Estate Association (BRREA), and Cornerstone Association of Realtors, for the next two years under the current MLS Services Agreement.

“We will be reviewing what is in the best interests of our members and the future of ITSO over the course of the next two years,” says Halford.”There are other MLS Systems in Ontario and in other provinces that operate with far fewer users than ITSO, so we know such a system is viable, but we also understand the political pressure that our remaining members face to solve the problem of fragmented data access.

“We are disappointed that a solution could not be arranged with TRREB that would have fostered competition in the MLS services market and enabled all realtors in the province to access all the MLS data they need in the system of their choice.” 

Halford adds, “It is especially disheartening to see Realtors who formerly used the ITSO system complain on social media about the quality and quantity of listing content they now have access to in their new MLS System, as ITSO and its members prided themselves on building a comprehensive database of detailed and accurate MLS listing content.”

Industry perspectives

Paul Czan, president of the Ottawa Real Estate Board, says the board joined PropTx last fall.

Czan explains, “This new platform promises a much better experience with more data readily available. Faster communication and smoother transactions, in a sense. Another thing is we’re able to have input on the system.”

OREB’s president has high hopes for PropTx’s impact.  “I think it’s going to be a platform that’s going to bring stability and consistency amongst a bit of a shifting landscape in our industry, meaning that Realtors can be assured that they can have access to the same quality data as their counterparts in all the other regions.”

Editor’s note: The original article stated that the Ottawa Real Estate Board had left ITSO for PropTx. The board was not an ITSO member and the article has been updated to reflect that.

By most projections, the Canadian housing market is expected to see modest sales and price gains in 2025, but “it’s still a long way back to the 2022 highs,” according to BMO Senior Economist, Robert Kavcic. 

In BMO’s housing outlook for 2025, Kavcic predicts national home prices won’t push past 2022 levels until 2029 under the bank’s base-case scenario.

Modest growth in sales and prices

According to the report, sales volumes are expected to rise 12 per cent this year, driven by a rebound from the “depressed” levels of the previous year, while the benchmark home price is forecasted to climb a modest 4 per cent “as still-challenging affordability and investment calculus will keep the rebound in check.”

Regionally, Southern Ontario and British Columbia—markets that saw some of the sharpest declines—are expected to recover, while Alberta and Atlantic Canada, which outperformed during the pandemic, are likely to see more tempered growth. 

BMO highlights a sharp contrast in performance within major cities like Toronto, where single-detached homes are in demand but, as we’ve heard repeatedly, the condo market faces mounting pressure due to an influx of new units hitting the market. “Look for condo prices to struggle in 2025 even if the single-detached market improves further,” the report states.

Mortgage rates near cycle lows

Mortgage rates are another critical factor shaping the housing market in 2025. BMO notes that most of the Bank of Canada’s current rate-cut cycle has already been priced into fixed mortgage rates, which are now in the low-to-mid 4 per cent range. Kavcic adds, “There is room for variable rates—currently around 4.7 per cent—to test the 4 per cent level, which would be an important psychological and valuation barrier, but the Bank will have to continue easing.”

New mortgage rules implemented in December “should incrementally ease conditions into the spring season.” These include an increase in the price cap for insured mortgages, from $1-million to $1.5-million, and the extension of 30-year amortizations to first-time buyers and purchasers of new homes. Kavcic expects these changes could make housing more accessible, particularly in larger markets where lower-end single-family homes and larger condos often fall within the updated price range.

Challenges in affordability and investment

Despite these positive trends, affordability remains a significant challenge. Kavcic is calling for sub-4 per cent borrowing costs: “If we plug 3.9 per cent mortgage rates and a 30-year amortization into our affordability calculator, we get back into the realm of what was sustained pre-pandemic, assuming prices remain at current levels.”

The economist says this scenario could allow room for prices to rise modestly without (again) running into affordability constraints. 

A cooling rental market

There are notable shifts happening in the rental sector. A combination of reduced immigration targets and an influx of new rental supply is driving down rents in major markets. The report cites data from Rentals.ca, showing a “near double-digit decline in 1-bedroom Toronto apartments.” This trend is expected to continue through 2025, with higher vacancy rates and falling rents bringing relief to renters.

Long-term outlook

Looking ahead, BMO underscores that the Canadian housing market is in the middle of a “prolonged period of consolidation.” Kavcic compares the current trajectory to past corrections, including the deep housing downturn of the 1990s. While today’s economic conditions differ significantly, the demographic and financial pressures on the market are reminiscent of that era.

“Suffice it to say, this was an extraordinarily bullish trio that won’t be repeated,” referring to the convergence of low interest rates, peak millennial demand and record immigration that fueled the 2022 highs. With these forces now dissipating, the road ahead is one of gradual recovery rather than “exuberant” growth.

It’s official—Realtor.ca is now a standalone, wholly-owned taxable subsidiary of the Canadian Real Estate Association. On Jan. 6, the entity was legally formed and governance now falls to its transition board of directors.  

As part of the change, Patrick Pichette, who has served as vice president of Realtor.ca for over six years, has been named interim CEO following the board’s first meeting earlier this week.

The restructuring is intended to provide Realtor.ca with greater operational flexibility, enabling the platform to pursue additional revenue opportunities and invest in further development, CREA says. 

“I’m honoured to continue to lead the exceptional Realtor.ca team and look forward to building on the incredible momentum of the past several years. REALTOR.ca is an indispensable resource and I believe deeply in the value the platform generates for the Canadian real estate ecosystem,” says Pichette.

The national association explains the transition to a taxable subsidiary comes in response to growing competition, evolving consumer expectations and increasing operational costs. CREA says it aims to reduce its reliance on member dues while maintaining Realtor ownership and reinvesting profits into the platform.

The influx of 471,771 new permanent residents in 2023—and a targeted 485,000 for 2024—was a transformative force in driving luxury real estate demand across Canada’s major cities, according to the Sotheby’s International Realty Canada Top-Tier Real Estate: 2024 State of Luxury Annual Report. The Bank of Canada’s monetary easing, which began in June, further fueled market momentum.

Although affluent buyers are less affected by mortgage rates, successive interest rate cuts enhanced consumer confidence and facilitated movement from conventional markets into entry-level luxury segments.

By October 2024, home sales activity across Canada’s MLS systems climbed 7.7 per cent month-over-month—the highest since April 2022—followed by another 2.8 per cent increase in November. The Bank of Canada’s December rate cut of 50 basis points to 3.25 per cent is expected to further energize the market in 2025.

“Canada’s conventional and luxury real estate market demonstrated remarkable resilience in 2024 and closed the final quarter of the year with a pick-up in sales activity that foreshadows further improvement in the months ahead,” said Don Kottick, president and CEO of Sotheby’s International Realty Canada, in a press release.

Greater Toronto Area (GTA)

The GTA led Canada’s luxury market resurgence, with sales over $4 million rising 21 per cent year-over-year in 2024. Single-family homes dominated, making up 91 per cent of luxury sales in this segment. Ultra-luxury sales over $10 million increased 20 per cent, supported by a mix of MLS and private transactions.  

Calgary

Calgary experienced the fastest growth in luxury sales among Canada’s major cities. Sales over $1 million surged 42 per cent, while those over $4 million doubled year-over-year. Single-family and attached homes saw the steepest increases, reflecting a population-driven demand boom.  

Montreal

Luxury sales in Montreal showed notable resilience, with $4 million-plus sales up 16 per cent and $1 million-plus transactions rising 38 per cent. The city reported strong growth across all housing types, with condominiums seeing a 53 per cent increase.  

Vancouver

Vancouver’s luxury market lagged in 2024 due to misaligned seller expectations and a softer local economy. Sales over $4 million declined 11 per cent, while ultra-luxury transactions over $10 million fell 29 per cent. However, $4 million-plus condominium sales rose 26 per cent, reflecting an emerging opportunity in this segment.  

The bottom line

Kottick highlighted Toronto and Montreal’s revitalization as a model for national market improvement, driven by realistic pricing and falling interest rates. He also noted that Calgary continues to lead expansion in top-tier housing sales, putting unprecedented pressure on housing supply and prices.

Kottick contrasted this with a weaker picture of Vancouver’s economy, and “the ongoing standoff between sellers clinging to peak-era valuations and buyers demanding prices that reflect today’s reality” that’s slowing Vancouver’s market.

He also emphasized the long-term investment potential of luxury condominiums in Toronto and Vancouver, where declining prices and low competition create favourable conditions for buyers. As population growth intensifies housing demand, these markets are poised for future gains.  

Canadians are increasingly committed to homeownership this year, more so than in 2024, a recent survey by Wahi reveals.

“The message from many Canadians is clear—they’re going to do what it takes to step onto the property ladder,” said Wahi CEO Benjy Katchen in a press release. “While lower interest rates and new mortgage rules have improved housing affordability somewhat, many Canadian homebuyers are taking a more proactive approach.”

Key findings

Results from the second-annual Homebuyer Intentions Survey of Angus Reid Forum members show almost 17 per cent of Canadians say they will probably buy a home this year. Millennials took the lead with 23 per cent, followed by Gen Z (20 per cent), Gen X (18 per cent) and baby boomers (10 per cent).

Canadians are spending less, with 52 per cent of prospective buyers planning to cut back, a 7.0 per cent increase from 2024.

As well, 31 per cent of respondents intend to change their investment strategies, from 21 per cent the prior year. 30 per cent of respondents will work longer hours, whereas 21 per cent indicated so in 2024, while 10 per cent would consider gig work or side jobs, up from 8.0 per cent the previous year.

How first-time vs non-first-time homebuyers compare

The survey found first-time homebuyers were more flexible with making concessions to afford a home than experienced homebuyers: 59 per cent were willing to reduce spending compared to 47 per cent of non-first-time homebuyers, while 37 per cent would change their investments compared to 27 per cent of non-first-time homebuyers.

37 per cent of first-time buyers were open to working longer hours to buy a home, while 24 per cent of non-first-time buyers said the same.

Willingness to relocate

The survey found that 73 per cent of all prospective buyers would consider different neighbourhoods, 57 per cent would consider a different style or type of home and 55 per cent were comfortable living farther from amenities like schools and stores.