The latest report from the Royal League has revealed a surprising trend among Canadians living in major urban centers – half of them are looking to move to more affordable cities. To delve deeper into this phenomenon, Karen Yolki, Chief Operating Officer of Royal League Real Estate Services, joins us to discuss the findings.
Karen explains that the convergence of remote work and hybrid work, which has become more prevalent since the pandemic, is a key factor driving this trend. With the ability to work from anywhere, many Canadians are considering relocating to smaller markets for more affordable housing and a lower cost of living.
Among the respondents, Quebec City emerged as the most popular destination for those in the Greater Montreal area, while Edmonton was the top choice for residents of the Greater Toronto and Vancouver areas. Despite the distance, Edmonton’s affordability and quality of life are attracting many potential movers.
When asked about the reasons behind this desire to move, Karen highlights lifestyle as a key factor. People are looking for more space, access to nature, and a slower pace of life away from the hustle and bustle of big cities. While some may have concerns about healthcare infrastructure in smaller communities, the allure of a more affordable and fulfilling lifestyle outweighs these considerations for many.
The report also identifies three hidden gems – Thunder Bay, St. John, and Red Deer – as attractive options for those seeking affordable housing. With median home prices well below those in major cities, these smaller cities offer the promise of growth and opportunity for those looking to set down roots and build a brighter future.
In conclusion, the trend of Canadians moving to more affordable cities reflects a shift in priorities towards a better quality of life. As remote work becomes more common and housing affordability remains a challenge in major urban centers, smaller markets are emerging as appealing alternatives for those seeking a change. Whether it’s for more space, a closer connection to nature, or simply a slower pace of life, the desire to move to a more affordable city is a sign of the times and a reflection of changing priorities among Canadians.
