Q4 2011
REW.ca Real Estate Consumer
Survey
1
Real Estate Consumer Survey Q4 2011


Survey findings include:

Home preferences

Willingness to compromise and on what

Ideal location

Realtor added value



About Survey:
Survey sponsored by REW.ca and
conducted by Mustel Research Group.
349 interviews completed with residents
throughout Vancouver Lower Mainland.
18 years of age or over who have bought or
sold a home or property in the past three
years or who plan to purchase / sell in the
next three years or so.
Communities included in the survey are:
Vancouver West Side, Vancouver East Side,
Vancouver Downtown, Surrey,
Burnaby/New Westminster, North
Vancouver, Tri-Cities, Fraser Valley,
Richmond, South Delta/Tsawwassen/White
Rock, Langley, West Vancouver, Pitt
Meadows/Maple Ridge, North Delta, Sea-toSky corridor (including Squamish, Whistler,
Pemberton), and Bowen Island.
2
Home Preferences
&
Compromises
3
Ideal Location
Q.4) What
would be your
ideal location
if you could
afford it?
Vancouver
West side
Downtown
East side
Burnaby/New West
South Delta/Tsawassen/White Rock
North Vancouver
Fraser Valley
Langley
Tri-Cities
West Vancouver
Surrey
Vancouver Island/Sunshine Coast
Interior
Richmond
Pitt Meadows/Maple Ridge
Out of Province
North Delta
Total
(349)
%
33
18
7
7
9
9
9
8
7
5
4
4
3
2
2
1
1
<1
Past Buyers/Sellers
(94)
%
42
32
6
3
6
10
7
5
3
4
5
4
2
2
3
1
1
Future Buyers/Sellers
(299)
%
32
16
7
8
10
9
9
8
8
4
3
3
3
3
2
1
1
4
Ideal Location by Area of Residence
Area of Residence
Vancouver
(n=109)
%
Stay in current
municipality/area
Move to City of
Vancouver
Move to other area
Tri-Cities/ Richmond/
Burnaby/
Maple
South Delta/ Surrey/
New
Ridge/ Pitt Tsawwassen North Delta/ Chilliwack/
North Shore Westminster Meadows /White Rock Langley
Abbotsford
(n=42)
(n=36)
(n=35)
(n=43)
(n=59)
(n=25)
%
%
%
%
%
%
82
81
56
52
68
59
60
n/a
7
11
11
21
7
8
18
12
33
37
11
34
32
Q.4) What would be your ideal location if you could afford it?
Breakdown of answers by current area of residence.
5
Most Important Factors in Selecting Neighbourhood
Close to amenities such as shops, grocery
stores, medical facilities
Close to family/friends
Close to work/lessened commute time
Close to parks and green space
Close to public transit
Lessened or no need to use vehicle (can walk
or cycle)
Safety/less crime
Quality of schools
Close to water (streams, rivers, lakes, ocean)
Close to schools
Close to recreation facilities
Close to airport
Other
Total
(349)
%
Past
Buyers/Sellers
(79)
%
Future
Buyers/Sellers
(276)
%
41
41
44
33
22
15
19
32
20
17
15
32
22
15
19
13
14
13
16
8
15
4
3
1
6
13
13
10
6
3
-11
16
6
17
3
3
1
5
Q.7a) Apart from affordability, what were the 2 most important factors in selecting your neighbourhood location?
Q7b) Apart from affordability, what are the 2 most important factors in selecting your neighbourhood location?
6
Type of Home Preferred
Past Buyers/Sellers
Purchased
Detached rancher, one level
18%
3%
53%
11%
2%
23%
Condo
Base:
22%
15%
Detached three level with basement
Townhouse
20%
10%
Detached two level
Duplex/multiplex
Future Buyers/Sellers
Want to Purchase
Past buyers/sellers (n=79)
32%
19%
26%
Future buyers/sellers (n=276)
Q.3a) What type of home did you purchase?
Q.3b) If buying in the future, what type of home are you looking for?
7
Two Most Important Factors in Selecting a Home
Total
Past Buyers/Sellers
39%
Number of bedrooms
Style of home
24%
Investment potential
22%
Size - downsizing (moving to a
smaller home)
27%
21%
Environmental/energy efficiency
Secondary suite in home
Other
Base:
Total (n=349)
9%
12%
Past buyers/sellers (n=79)
35%
38%
43%
Size - upsizing (moving to a larger
home)
Future Buyers/Sellers
44%
37%
23%
28%
21%
24%
30%
15%
23%
13%
13%
23%
8%
9%
Future buyers/sellers (n=276)
Q.8a) Apart from the price, what were the two most important factors you considered in selecting your home?
Q.8b) Apart from the price, what would be the two most important factors you would consider in selecting your future
home?
8
Maximum Commuting Time Would Accept
Total
Past Buyers/Sellers
Under 10 minutes
5%
6%
5%
10
7%
5%
7%
15
7%
6%
8%
Average by Age:
18-34 yrs = 39 min
35-54 yrs = 31 min
55 yrs + = 27 min
20
21-29
18%
3%
30
3%
40
4%
50
60 plus
18%
3%
2%
31%
1%
12%
2%
15%
3%
12%
25%
3%
5%
Average = 30 min
Total (n=349)
16%
27%
35
45
Base:
Future Buyers/Sellers
7%
Average = 30 min
Past buyers/sellers (n=94)
4%
11%
2%
13%
Average = 30 min
Future buyers/sellers (n=299)
Q.5) What is the maximum commuting time you would be prepared to accept to work, school
or another destination that you travel to regularly?
9
Compromises in Order to Afford Home
Past Buyers/Sellers
37%
Size of home
44%
Distance from work
32%
24%
Condition of home
30%
25%
Lot size/size of yard
22%
Distance from friends/family
22%
Quality of schools
Distance from schools
Other
Did not/would not make any compromises
Base:
Future Buyers/Sellers
Past buyers/sellers (n=79)
43%
30%
1%
23%
--
26%
9%
15%
2%
16%
Future buyers/sellers (n=276)
Q.9a) What characteristics of your home or neighbourhood did you compromise in order to afford your home?
Q.9b) What characteristics of your home or neighbourhood would you compromise in order to afford your future home?
10
Other Survey Highlights
11
Greatest Value Received From Realtor
Total
32%
34%
Marketing/listing your current home
15%
Arrange open houses
3%
Help to determine neighbourhood and
communities
2%
4%
Past buyers/sellers (n=94)
19%
20%
18%
Help to identify homes best suited to your
needs
22%
22%
22%
Placing/negotiating offers
Base: Total (n=349)
Future
Buyers/Sellers
34%
Help with paperwork/contracts
Other
Past
Buyers/Sellers
16%
10%
9%
2%
5%
2%
2%
4%
Future buyers/sellers (n=299)
Q.12) What do you think is the greatest value you receive from a Realtor?
12
Used/Currently Using Realtor
Past Buyers/Sellers
No
6%
Base:
Yes
94%
Past buyers/sellers (n=79)
Future Buyers/Sellers
No
65%
Yes
35%
Future buyers/sellers (n=276)
Q.11a) Did you use a Realtor to buy or sell your home?
Q.11b) Are you currently using a Realtor?
13
Perception of Home Prices in 2012
Total (n=349)
Area of Residence
Vancouver (n=109)
33%
40%
North Shore (n=42)
31%
Burnaby/New Westminster (n=36)
33%
Tri-Cities/Maple Ridge/Pitt Meadows (n=35)
Richmond/South Delta/Tsawwassen/White
Rock (n=43)
Surrey/North Delta/Langley (n=59)
Fraser Valley (n=25)
13%
17%
14%
19%
34%
28%
22%
36%
Increase
54%
6
5
43%
55%
47%
60%
67%
14%
64%
8%
Decrease
56%
Stay about the same
Q.10) Do you believe that prices will increase, decrease or stay about the same in 2012?
14
Questions??
15
Demographic Characteristics
Gender
Male
Female
Age Category
18-34
35-54
55+
Home Tenure
Own
Rent
Annual Household Income
Less than $40,000
$40,000 to $59,999
$60,000 to $79,999
$80,000 to $99,999
$100,000 to $120,000
$120,000 or over
Prefer not to say
Total
(349)
%
Past
Buyers/Sellers
(94)
%
Future
Buyers/Sellers
(299)
%
49
51
54
46
48
52
16
39
46
16
43
42
16
37
47
79
21
96
4
77
23
10
13
15
14
14
17
17
9
11
10
15
16
26
15
11
14
16
14
13
15
17
continued
Demographic Characteristics (cont’d)
Area of Residence
Vancouver
West Side
East Side
Downtown
Surrey
Burnaby/New West
North Vancouver
Tri-Cities
Fraser Valley
Richmond
South Delta/Tsawwassen/White Rock
Langley
West Vancouver
Pitt Meadows/Maple Ridge
North Delta
Sea-to-Sky corridor
Bowen Island
Total
(349)
%
Past
Buyers/Sellers
(94)
%
Future
Buyers/Sellers
(299)
%
31
13
12
6
11
10
8
8
7
7
5
5
3
2
1
1
1
34
19
10
5
10
7
9
6
7
10
7
2
1
2
2
1
1
31
12
13
6
11
11
8
8
7
8
5
6
3
2
1
<1
<1