Multiple-Property Holders Own Nearly Half Of Canada’s Housing: StatsCan

Data from Statistics Canada shows that multiple-property owners held between 29% and 41% of the available housing supply in Ontario, British Columbia, Nova Scotia and New Brunswick in 2019 and 2020.

The data reveals that multiple-property ownership accounted for 41% of Nova Scotia's housing stock, 39% of New Brunswick's, 31% of Ontario's and 29% of British Columbia's.

Similar to many markets across Canada, Nova Scotia Finance Minister Allan MacMaster said the province has been dealing with tight housing supply and surging home prices.

That prompted Nova Scotia to introduce a new deed transfer tax and a property tax targeting non-resident homeowners. Both came into took effect on April 1.

The Statistics Canada data shows that the top 10% of homeowners in Ontario, British Columbia, Nova Scotia and New Brunswick earn more than the bottom 50% combined, with the top 10% of owners in Ontario and British Columbia each earning yearly incomes of more than $125,000.

The same tranche of data also shows that between 2018 and 2019, the number of first-time homebuyers increased by 17% in New Brunswick, 9% in Nova Scotia and 6% in British Columbia.

The data's release comes less than a week after the federal government announced a slew of housing measures meant to make homes more affordable for first-time buyers and less accessible for non-residents.