The cost of housing is causing nearly four in 10 Ontarians to consider leaving: Angus Reid

A new survey finds that nearly four in 10 Ontarians are considering leaving the province because of high housing prices.

The Angus Reid Institute conducted an online survey of 4,204 Canadians last month and found that 28 percent of all respondents were considering moving to another province due to concerns about the cost of housing.

But among Ontario residents, that number jumped to 39 percent, the highest percentage in any Canadian province. British Columbia had the second-highest percentage of residents considering a move elsewhere (36 percent), followed by residents in Nova Scotia (25 percent).

Of Ontario residents who said they were “seriously” considering leaving the province, about 26 percent named “overseas” as their most likely destination, with Alberta (17 percent), the United States (17 percent) and Atlantic Canada (14 percent) next on the list.

The results also showed a generational divide, with Ontario residents aged 18 to 34 nearly twice as likely (46 percent) to say they were considering moving because of high home prices, compared to residents aged 55 and older (26 percent).

New immigrants were also more likely to say they would consider leaving because of high housing costs, compared to all Canadians.

About 39 percent of those who have lived in Canada for 10 years or less said they considered moving because of housing costs, compared with 28 percent overall. The number dropped to 30 percent among immigrants who have lived in Canada for 11 years or more.

“Canada has traditionally been seen by the OECD as a ‘role model’ for labour migration and has outperformed most OECD countries in terms of economic integration of immigrants. However, many recent immigrants are leaving the country due to the high cost of living, particularly housing, which may be damaging Canada’s reputation as a welcoming country for newcomers,” according to a press release accompanying the poll.

The average price of a house in Toronto fell 3.5 percent year-over-year in May, but still stands at $1,117,400.

The website Zoocasa previously warned that all Toronto neighbourhoods will reach the average price of $2 million by 2034.

Ontarians may still be optimistic about home prices.

Of Ontario residents surveyed, 58 percent said they are hopeful that housing affordability “will improve in the coming years.”

Among Canadians, that figure was 53 percent.

The survey was conducted between June 14 and 20. Angus Reid says a probability sample of the same size typically has a margin of error of 1.5 percentage points, in 19 out of 20 cases.