123,000 people moved from one province to another in Q2 2021

Canadian’s are leaving Ontario in droves, according to a new Re/Max study.

Over 123,000 people left a Canadian province for another in Q2 of 2021. This is a 51.1 percent leap over the previous year in terms of inter-provincial moves.

In Ontario specifically, nearly 12,000 people left the province — which has one of the highest costs of living in Canada — for a new province. The study cites that this shift could be related to remote work amid the pandemic, allowing Canadians who previously lived in expensive Ontario cities to move to more affordable areas.

“The global health crisis also served as an opportunity for urban dwellers, flush with enormous equity, to leave behind these metropolises for suburban life. But this shift has created fresh hurdles for people living in those areas, as out-of-province and out-of-town buyers are elevating the price of these once-affordable homes by outbidding others by remarkable levels,” says Re/Max in the study.

The study goes on to say that many Canadians are moving to Atlantic Canada, which has experienced its most significant population surge in several decades.

That said, British Columbia still managed to attract 15,000 inter-provincial moves during the last quarter despite being home to a high cost of living.

For Re/Max’s complete study, follow this link.

Source: Re/Max Via: blogTO

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