Home is where the heart is – but home is getting smaller and costlier. Housing affects the entire market, meaning all companies should consider its implications.
Scott Stewart, Associate Director, Lifestyles & Retail
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- Key issues covered in this Report
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Executive summary
- The markets
- The consumer
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Canada Today – The People
- Graph 1: population by generation, 2023
- Graph 2: total fertility rate (number of children per woman), 1992-2022
- Graph 3: population projections, by growth scenario, 2025-65
- Graph 4: % of population by generation in Canada, 2021
- Graph 5: homeownership rate, by age, 2011-21
- Graph 6: 18-34s relationship status, by home ownership status, 2024
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Canada Today – The Economy
- Graph 7: quarterly GDP growth at market prices, 2021-23
- Graph 8: CPI inflation (year over year percentage change), 2019-24
- Graph 9: unemployment rate (seasonally adjusted), 2020-24
- Graph 10: policy interest rate, by month, 2022-24
- Graph 11: debt servicing – interest vs principal, 2018-23
- Graph 12: new house price index (December 2016=100), 2004-24
- Graph 13: housing completion estimates, single-detached vs multiple, 2003-22
- Graph 14: average monthly rental rate price of a two-bedroom home ($), by province, 2022-23
- Graph 15: distribution of average household wealth, by wealth quintile, Q3 2023
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The Market – Overview
- Graph 16: total consumer expenditure ($ bn), at current prices, 2023
- Graph 17: total household expenditure (2017 constant prices), 2019-23
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Category Reviews
- Housing
- Personal finances
- In-home food
- Drinks
- Technology and communications
- Leisure and entertainment
- Household care
- Beauty and personal care
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Consumer Insights
- Consumer fast facts
- Consumer fast facts (continued)
- Where people live today
- Graph 18: live in a single-detached house, by generation, time in Canada and race, 2024
- Graph 19:
- Graph 20: live in a single-detached house, by household income and home ownership status, 2024
- Graph 21: home size, by type of home (NET), 2024
- Graph 22: perceptions of home space, by type of home (NET), 2024
- Graph 23: “My home feels too small,” by generation, time in Canada and race, 2024
- Graph 24: dog and cat ownership, by type of home (NET), 2024
- Housing finances
- Graph 25: share of net income spent on mortgage/rent, 2024
- Graph 26: share of net income spent on mortgage/rent, by generation, 2024
- Graph 27: spend 41% or more of net income on mortgage/rent, by household income, home ownership status and type of home (NET), 2024
- How space is used at home
- Graph 28: activities in the bedroom – video content, by generation, 2024
- Graph 29: activities in the bedroom – eating, by generation, 2024
- Graph 30: activities in the bedroom, by household size, 2024
- Graph 31: activities in the basement, by type of home (NET), 2024
- Graph 32: host/socialize with guests in the kitchen, by gender, age, race and household income, 2024
- Extra space and amenities at home
- Graph 33: home amenities, 2024
- Graph 34: home amenities, by home ownership status, 2024
- Graph 35: home amenities, by age, 2024
- Graph 36: social media sites visited daily, by age, 2024
- Graph 37: home amenities, by race, 2024
- Graph 38: home amenities, by time in Canada, 2024
- Graph 39: “I wish I had more storage space at home,” by home amenities, 2024
- Movers and their reasons for moving
- Graph 40: moving expectations in the next three years, 2024
- Graph 41: expect to move within the next three years, by age, 2024
- Graph 42: expect to move within the next three years, by race and time in Canada, 2024
- Graph 43: reasons for moving, by age, 2024
- Graph 44: expect to move within the next three years, by type of home (NET), 2024
- Graph 45: reasons for moving – upsizing, by type of home (NET), 2024
- Non-movers and their reasons for staying put
- Graph 46: expect to have the same primary residence in three years, by generation, time in Canada and race, 2024
- Graph 47: reasons for not moving, 2024
- Graph 48: reasons for not moving, homeowners, 2024
- Graph 49: reasons for not moving, renters, 2024
- Mintel Trend Serving the Underserved
- Graph 50: live in a household 500 square feet or smaller, by race, time in Canada and current financial situation, 2024
- Graph 51: rent their home, by race, time in Canada and current financial situation, 2024
- Graph 52: “I received help from my family towards the down payment for my home” (% agree), by age, 2024
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Appendix
Market Intelligence Made Easier With Mintel
The first Mintel Market Intelligence report was published over 50 years ago. Since then, we have provided our unique insights and understanding of consumers, innovation and global markets to thousands of customers worldwide. Here’s why our customers rely on Mintel:
- Gain a comprehensive, 360-degree view of the market: Mintel reports blend consumer research, market forecasts, product innovation tracking, and competitive analysis, allowing businesses to see every angle of their industry and identify new opportunities quickly.
- Make decisions with confidence, grounded in robust data: Each report draws on up-to-date, reliable information from trusted sources and industry experts, ensuring your strategies are based on solid evidence rather than speculation.
- Benefit from expert analysis and practical recommendations: Mintel’s reports are written by experienced analysts who interpret complex data and provide clear, actionable insights you can trust to guide your next moves.
- Stay ahead with actionable intelligence on market trends and consumer behaviour: By combining fresh research with long-term market monitoring, our reports help businesses anticipate changes and adapt strategically. So you’re prepared to make informed decisions and drive growth.
What goes into a Mintel Market Intelligence Report?
Curious about how a Market Intelligence report comes together? We like to think of it as building a detailed puzzle. We start with individual pieces: data from consumers, market statistics, industry trends, and online conversations. Then our expert analysts add world-class human insight and industry knowledge. The pieces are assembled to reveal a clear, comprehensive picture of a market.
The Four Pillars of Our Research
We use a combination of four main research methods when creating our reports, each adding a valuable perspective:
- Consumer Research: Direct surveys with real people, giving us clear, current insights into what people think and do.
- Desk Research: In-depth review of trusted data sources. We use this rich database, plus powerful internal tools that track new products and market sizes, to detect trends and guide forecasts.
- Trade Research: Insights from conversations with industry experts. Their real-world experience helps us understand what’s happening behind the scenes.
- Brand and Social Media Research: Analysis of online opinions and trends. This lets us spot trends, measure brand sentiment, and capture feedback in real time, adding further depth to our research.
Bringing It All Together
Each of these four pillars provides a different piece of the puzzle. Consumer research tells us what customers think, desk research provides the factual framework, trade research offers an insider’s view, and social media analysis reveals public sentiment.
Our expert analysts are skilled in weaving these diverse data streams together. They apply a range of quantitative and qualitative analysis techniques to uncover the deeper story, connecting the dots to deliver clear, actionable insights. This comprehensive, multi-layered process is how we transform raw data into a market intelligence report you can trust to inform your most important business decisions.
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