54% of Canadians would consider moving cities to be able to afford a home, according to new research from finder.com. (File photo)

Kelowna ranks fifth in where Canadians will move to buy a home: study

‘The study suggests that the dream of homeownership is very much alive and well,’ said Finder’s editor

A study by Finder entitled Housing affordability in Canada found that 54 per cent of Canadians would consider moving cities to be able to afford a home.

And a good chunk of that 54 per cent would have Kelowna as a viable option.

Ranking fifth of the 22 cities included in the study, Kelowna was bested by only Ottawa, St. Catherines/Niagara, Halifax and Toronto.

By age, Kelowna was favoured mostly by the 55+ group, ranking as the third most popular city among 55 to 64-year-olds and the fourth most popular for those over the age of 65. Among younger groups Kelowna still ranked relatively high, placing sixth in the 25 to 34 age group and 10th for 45 to 54-year-olds.

Kelowna did not show up in the top 10 for people aged 18-24 or 35-44.

READ MORE: Parking price hike could free up spots in downtown Kelowna

READ MORE: Lake Country council looks to future of foreshore

Kelowna is the most popular city for west coasters to move (19.66 per cent) and 2nd most popular for those in the prairie provinces (12.72 per cent).

“The number of Canadians willing to relocate to fulfill their goal of homeownership skyrockets among younger generations. Just under 70 per cent of millennials and 85 per cent of gen-Zers are open to moving cities,” said Angus Kidman, global-editor-in chief at Finder.

“However being willing to move somewhere and actually doing it are two different things. Those looking to buy outside of their city of residence need to consider house prices, their earning potential and the overall cost of living.”

“Just because a city is popular doesn’t necessarily mean it’s a great place to live. To avoid moving somewhere you’ll regret, consider renting beforehand to see if the areas you like are affordable and if it’s a good lifestyle fit for you.”

More information and the full study is available on Finder’s website.


Like us on Facebook and follow us on Twitter.

Just Posted

New partnership lets Kelowna family save on medical transportation costs

New Hope Air and Airbnb initiative provides patients free accommodation while traveling to city centres for medical reasons

Kelowna karate stars bring home 24 medals from B.C. championships

Thirteen athletes from Kelowna Karate and Fitness performed strong at the provincials last weekend

WATCH: Ballet Kelowna graces the stage in Prince Rupert

The Lester Centre of the Arts hosted the group who performed Mambo and Other Works

City of Kelowna implements two new electric vehicle charging stations

EV drivers will now have four charging options across the city

Third Space Life Charity announces Jody Phil as executive director

Jody Pihl will succeed Allie Grey who served as the executive director for the past three years

BC SPCA Kelowna holiday bake sale kicks off Nov. 7

Event will help to raise money for stray and neglected animals

John Mann, singer and songwriter of group Spirit of the West dead at 57

Mann died peacefully in Vancouver on Wednesday from early onset Alzheimer’s

VIDEO: B.C. high school’s turf closed indefinitely as plastic blades pollute waterway

Greater Victoria resident stumbles on plastic contamination from Oak Bay High

B.C. mayor urges premier to tweak road speeds in an ‘epidemic of road crash fatalities’

Haynes cites ICBC and provincial documents in letter to John Horgan

South Cariboo Driver hits four cows due to fog

The RCMP’s investigation is ongoing

Hergott: Day of remembrance for road traffic victims

Lawyer Paul Hergott’s latest column

Straight from DeHart

Train Station owners open another station stop

Revelstoke man who sexually assaulted drunk woman sentenced to 18 months house arrest

For the first nine months he cannot leave his home between 2 p.m. and 11 a.m. except for work

Kamloops RCMP seek driver who hit teenager, then drove away

The 13-year-old boy was in a crosswalk, crossing Seymour Street at Eighth Avenue

Most Read