Economy, job stability concerns delaying some first-time home purchases: poll

A woman walks by a house for sale in Montreal, Friday, March 4, 2022. THE CANADIAN PRESS/Graham Hughes (Graham Hughes)

TORONTO — A new poll says concerns about job stability and the economy are weighing on first-time homebuyers looking to enter the market.

The Harris Poll Canada study commissioned by Scotiabank says more than half of Canadians planning to buy their first home in the next five years feel that doing so is currently out of reach.

Around 62 per cent of potential first-time buyers cite the current economic environment as a factor negatively impacting their finances and delaying buying plans.

Other top concerns include affordability at 56 per cent, followed by uncertainty about the future at 47 per cent and fear of making the wrong decision at 43 per cent.

Meanwhile, nearly half of potential first-time buyers say their mortgage decisions are being influenced by worries about job stability, compared with 28 per cent of other Canadians.

Around 92 per cent of first-time buyers surveyed say they find the homebuying process confusing, compared with 68 per cent of Canadians overall.

This report by The Canadian Press was first published Dec. 4, 2025.

The Canadian Press