Nine in 10 newcomers say home ownership is key to feeling established in Canada, but saving for a down payment remains their biggest barrier
Nine in 10 newcomers to Canada say home ownership is important to feeling established in the country. Yet most still rent. Saving for a down payment is the single largest obstacle keeping them out of the market.
Those are the headline findings of a Royal LePage survey conducted by Burson, which polled 1,400 newcomers who arrived within the past 10 years. Fieldwork ran from August 25 to September 8, 2026. Just 33 percent currently own their primary residence. Sixty-six percent do not own any property.
The gap between aspiration and ownership is a planning opportunity. Advisors who engage newcomer clients early have an opportunity to build lasting relationships with a growing segment of the Canadian population.
Why is saving for a down payment so difficult for newcomers to Canada?
Among newcomers who intend to buy but have not yet done so, 61 percent identify saving for a down payment as their biggest barrier. Getting a more stable or higher-paying job was cited by 50 percent. Building a credit score or credit history was flagged by 27 percent.
Building credit has been challenging for many, especially those who are new to Canada. Many newcomers arrive from countries where transactions are primarily cash-based. They may have sound finances but no Canadian credit file for lenders to assess.
Eunice Aranda, a sales representative with Royal LePage Benchmark in Calgary, points to credit as the first hurdle. "Building a Canadian credit history can be one of the first challenges newcomers encounter when preparing to buy a home," she said. Many arrivals have strong savings but no borrowing record that Canadian lenders recognize. "Understanding that every credit decision can affect future purchasing power is incredibly important, especially in those first few years in Canada," Aranda said.
Helping newcomer clients understand how Canadian credit systems work is a concrete, early-stage service for advisors. Research on how advisors can build lasting trust with new Canadian clients shows early engagement tends to translate into lasting loyalty.
What mortgage pathways exist for newcomers with limited credit history?
For clients not yet mortgage-ready through conventional channels, alternatives exist. CMHC provides mortgage loan insurance through its Newcomers program for eligible permanent and non-permanent residents. Where Canadian credit history is limited, an international credit report or a home-country bank reference may be accepted instead.
Rent-to-own arrangements offer a further route. One in five newcomer homeowners surveyed used such a program for their first Canadian purchase.
Requity Homes, Canada's leading rent-to-own provider, operates in partnership with both Royal LePage and CMHC. It serves buyers in Ontario, Alberta, Saskatchewan, and Manitoba. The rental period gives participants time to accumulate savings, build employment history, and strengthen their profile before applying for a mortgage.
Immigration policy and the housing picture
Canada's immigration targets have shifted. In October 2024, the federal government lowered the 2026 permanent resident target from 500,000 to 380,000 admissions. Greater emphasis is now placed on transitioning temporary workers already in Canada to permanent residency.
According to Statistics Canada, economic-class immigrants report homeownership rates comparable to Canadian-born individuals by their fifth year after admission.
Royal LePage data shows the same arc. Among survey respondents, 45 percent in Canada between five and 10 years own a home. That compares with 22 percent of those resident for fewer than five years.
That trajectory reinforces the case for early advisor engagement. A newcomer who cannot purchase immediately may be ready to buy within two to five years, provided sound financial foundations are in place.
Newcomer home ownership in Canada follows a predictable arc from renting to purchase. A client who builds credit and understands the mortgage system with professional guidance early is more likely to stay. Understanding what newcomers face when they first arrive in Canada – and what products and pathways exist – is where that relationship starts.
