RBC/Pembina Institute study shows affordability and easy access to
transit, work and services are a high priority in GTA neighbourhoods
TORONTO, July 16, 2012 /CNW/ - The majority of Greater Toronto Area
residents would prefer to live in a walkable and transit-accessible
neighbourhood in the suburbs or the city that would better suit their
day-to-day life, according to an RBC-Pembina Institute study.
The poll found that eight-in-10 GTA residents (79 per cent) said affordability influenced where they live. If cost were not an issue, 81 per cent of
respondents indicated they would give up a large yard for a smaller lot
or more modest home within walking distance to amenities, easy access
to rapid transit and less time behind the wheel. Over half (54 per
cent) would choose this type of location-efficient neighbourhood even
if it was more expensive.
"The results of the survey indicate that there is a clear desire for
more compact and family-friendly homes that are close to where people
go everyday. Currently, many of these options are beyond most budgets," said Cherise Burda, report author and Ontario policy director at Pembina
Institute.
Stage of life a factor
Stage in life may also be a determining factor in where people choose to
live. GTA residents aged 60-and-over showed the strongest preference
for living in walkable and compact neighbourhoods (70 per cent),
despite the higher home costs in this type of area. In contrast, 59 per
cent of families with two or more children strongly preferred large
detached homes in car-dependent neighbourhoods with lower housing
costs.
"Traditional views of suburban and downtown neighbourhoods are changing.
Location and life stage matters when deciding the type of home you live
in and where you live," said Claude DeMone, director of client strategy
for home-equity financing, RBC. "Affordability remains a key
consideration for many homebuyers but this extends beyond just the
purchase price, as a better location can help cut commuting costs,
reduce home servicing expenses and save on your household budget."
A complete copy of the 2012 RBC-Pembina Home Location Study is available
here.
About the 2012 RBC-Pembina Home Location Study
The study was conducted May 1-8, 2012, by Environics Research Group. It
asked 1,014 adult residents in the Greater Toronto Area a series of
questions regarding their preferences for location-associated
attributes such as proximity to rapid transit, walkability, commute
times, house and yard size and privacy in trying to understand the
types of neighbourhoods where GTA residents prefer to live. Questions
also explored how home prices influence these preferences, and did not
ask about specific neighbourhoods.
About RBC
RBC is the largest residential mortgage lender in Canada, helping
thousands of Canadians reach their homeownership goals - whether they
are buying their first home, planning their next move, renovating or
managing their current home financing. RBC is recognized as a global
leader in corporate responsibility and its commitment to environmental
sustainability is detailed in the RBC Environmental Blueprint.
About Pembina Institute
The Pembina Institute is a national non-profit think tank that advances
sustainable energy solutions through research, education, consulting
and advocacy. It promotes environmental, social and economic
sustainability in the public interest by developing practical solutions
for communities, individuals, governments and businesses. The Pembina
Institute provides policy research leadership and education on climate
change, energy issues, green economics, energy efficiency and
conservation, renewable energy, and environmental governance.
Image with caption: "2012 RBC-PEMBINA HOME LOCATION STUDY (CNW Group/RBC)". Image available at: http://photos.newswire.ca/images/download/20120716_C8380_PHOTO_EN_16240.jpg