Anna Barone

This article examines homeownership among recent immigrants to Canada and their pathways leading up to homeownership. It combines information from the Canadian Housing Statistics Program on homeowners in seven provinces—Prince Edward Island, Nova Scotia, New Brunswick, Ontario, Manitoba, Alberta and British Columbia—with immigration data for individuals who were admitted as permanent residents from 2017 to 2021. This is the second in a series of articles published in Housing Statistics in Canada that investigate homeownership among newcomers to Canada.

Key findings

• From 2018 to 2021, the homeownership rate increased for recent immigrants and decreased for Canadian-born individuals. In Ontario, the homeownership rate for recent immigrants in the fifth year after admission rose from 35.7% in 2018 to 40.2% in 2021, while it fell from 50.7% to 47.8% for Canadian-born individuals.
• By their fifth year after admission to Canada, economic-class immigrants had homeownership rates comparable to those of Canadian-born individuals. In British Columbia, economic-class immigrants in their fifth year after admission had a homeownership rate of 40.1%, compared with 43.3% for Canadian-born individuals.
• By their fifth year after admission to Canada, recent immigrants in the Maritime provinces and Manitoba had homeownership rates similar to those of Canadian-born individuals. The homeownership gap between recent immigrants and Canadian-born individuals was larger in Ontario, Alberta and British Columbia.
• Immigrant homeownership rates varied significantly by province and by region of the world in which immigrants were born.
• Recent immigrant homebuyers had lower incomes but purchased more expensive homes than Canadian-born buyers. This difference may be associated with higher mortgage debt and lower retirement savings among recent immigrant homebuyers.

• The soft start to the year for the Canadian economy appears broad-based, underpinning 2026 real GDP growth downgrades across provinces, particularly in Ontario, B.C. and parts of the Atlantic. The picture is better in per capita terms, with positive growth expected across all provinces this year, led by Newfoundland and Labrador.
• A rebound in employment in May offered a modest lift to labour markets after a soft first quarter, but data volatility continues to cloud the underlying trends. Population growth is slowing sharply, with outright declines in Ontario, Quebec, and B.C. leading to smaller labour forces. This should help cap increases in unemployment, even as hiring slows to a near-standstill.
• The U.S.-Iran conflict has lifted global energy prices, providing a meaningful revenue and income boost to oil- producing provinces—particularly Alberta and Newfoundland and Labrador. Prices are expected to moderate through the back half of the year as Middle East tensions ease, though the outlook is highly uncertain. Higher fuel costs are weighing on households and businesses, especially in Central Canada.
• Provincial budget season has wrapped up, with deficits and net debt (both as a share of GDP) set to rise in aggregate this year. While FY 2026/27 program spending is set to gear down across provinces, weighing on GDP, committed public capital spending plans remain an important source of support. New initiatives were targeted rather than transformative, including measures such as the removal of the PST on groceries in Manitoba and tax cuts for businesses and new home purchases in Ontario. 
• Canadian home sales in the second quarter are tracking broadly in line with our prior projection, led by Ontario, while price growth is somewhat stronger. We continue to expect a gradual recovery through next year, with modest improvements in Ontario and B.C. (supported by pent-up demand), partly offset by cooling activity in other regions amid scant population growth.
• The July 1 CUSMA review deadline is nearing, but timely renewal looks unlikely as talks have yet to pick up. Trade uncertainty remains elevated as the U.S. stays committed to tariffs. Ontario, Quebec, and B.C. are most exposed given their reliance on manufacturing and trade. Still, exemptions for CUSMA-compliant goods have left Canada facing relatively low effective tariff rates, helping support export recoveries in most provinces.

• 2026 tournament could add up to C$6.5 billion to Canada's quarterly GDP
• Tourism, hospitality and consumer spending expected to drive the majority of economic boost, contributing up to C$5 billion
• Incremental growth to lift quarterly GDP by approximately 0.1 percentage points in mid‑2026

As millions of fans turn their attention to North America for the world's largest international soccer tournament, an economic boost of up to C$6.5 billion is expected in incremental quarterly GDP for Canada according to a new report from BMO Economics.

Running from June 11 to July 19, the tournament will feature 48 teams and 104 matches across North America, with Toronto and Vancouver hosting games in Canada.

"Mega sporting events of this scale don't transform economies overnight, but they do create a meaningful surge in demand over a concentrated period," said Douglas Porter, Chief Economist, BMO. "In Canada, tourism, accommodation, food services and local entertainment stand to benefit most – particularly in the host cities."