As a result of stronger labour markets and mortgage product innovation, the homeownership rate rose for all immigrant groups regardless of how long they had resided in Canada.
As more immigrants transition from renting to owning, they will continue to drive housing demand, most notably in the condo market. Research has shown that immigrant homeowners are more than twice as likely to live in a condominium than their Canadian counterparts. The report also indicated that 69 per cent of immigrants who came to Canada between 2001 and 2006 settled in Toronto, Montreal and Vancouver.
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