Millennials still determined to own a house, survey finds

Millennials are optimistic about owning a home, with six-out-of-10 believing they will be able to buy a house in the future, according to a survey by Royal LePage.

In the survey of 2,003 Canadians aged 26 to 41, 68 per cent of non-homeowners say buying a house is an important life goal to them.

The report, released on Wednesday, found there could be a surge of millennials looking to buy a home in the next few years. Across the country, more than four million individuals (51 per cent) are planning buying a house within five years.

"Policy makers should take note that between millennial demand, immigration and the growing pipeline of those who could not transact over the last two years, more supply is required,” said Phil Soper, president and CEO of Royal LePage, in the press release.