A new survey conducted by Leger for Rates.ca and BNN Bloomberg reveals that 64 per cent of young homeowners in Canada consider the risks of severe weather in various locations caused by climate change when choosing where to buy a home.
that have devastated communities and destroyed homes in recent months.conducted by Leger for Rates.ca and BNN Bloomberg reveals that many consider the risks of severe weather caused by climate-change when choosing where to settle down.
The online survey gathered data from 1,525 Canadians over the age of 18 in June 2023 and found young homeowners are the most concerned about the effects of climate change-induced extreme weather when buying a home. More than a third of homeowners surveyed said they considered the risks of extreme weather when deciding which location to purchase a home in. Within this group, 64 per cent of respondents were young Canadians, aged 18 to 34.
Leger's data also shows as the severity and frequency of severe weather events increases, such as raging wildfires in parts of the country or extreme flooding in parts of Alberta and Ontario, the effects on the housing market are becoming more apparent.catastrophic flooding in Canadian communities led to an 8.2 per cent decrease
The survey showed that those who bought their homes in the last two years were twice as likely to consider the risks of climate change-induced extreme weather compared to those who bought their home more than two years ago.
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