40% of new Canadians are considering moving due to housing costs

"If you are a young person who has arrived in Canada in the last 10 years and are renting in one of its biggest cities, life is not very happy at the moment,” said Shachi Kurl, president of Angus Reid.

Thirty-nine percent of immigrants who have arrived in Canada within the past decade are considering relocating, with 25 percent citing the cost of housing as the main reason. Among the remaining respondents, the desire for a better quality of life was the biggest factor, along with concerns such as the cost of living, access to healthcare, and proximity to family.

According to the poll, 28 percent of Canadians overall are contemplating leaving their current province due to soaring housing costs. This sentiment is most prevalent in Ontario (39 percent) and British Columbia (36 percent), where high housing costs have persisted longer than in other regions.

Across Canada, 42 percent of 18- to 24-year-olds are considering moving out of their current province. The poll indicates that renters are more likely to consider moving than homeowners, regardless of whether they have a mortgage.

Canada’s annual immigration target is approximately 500,000 people, one of the highest in the world relative to its population.

Among those who want to move but stay within Canada, the poll found that the majority—18 percent—would like to relocate to Alberta.

“We can speculate that people considering a move to Alberta either perceive housing as more affordable or more available there, or believe that the jobs available in the province will enable them to afford the cost of living,” Kurl said.

According to a recent BMO report, net interprovincial migration out of Toronto, Montreal, and Vancouver totaled over 130,000 people between 2022 and 2023.

Unusual Whales does not confirm the information's truthfulness or accuracy of the associated references, data, and cannot verify any of the information. Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Options, investing, trading is risky, and losses are more expected than profits. Please do own research before investing. Please only subscribe after reading our full terms and understanding options and the market, and the inherent risks of trading. It is highly recommended not to trade on this, or any, information from Unusual Whales. Markets are risky, and you will likely lose some or all of your capital. Please check our terms for full details.
Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Certain investment planning tools available on Unusual Whales may provide general investment education based on your input. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. See terms for more information.