Google Trends has released data on what Canadians have been searching regarding house hunting and mortgages during the pandemic.
Housing and mortgage-related searches reached record highs over the last year, as 🇨🇦 went online to begin their home buying journey. Many for the first time. Searches for house for sale, mortgage loans, mortgage calculators + mortgage rates are the highest they’ve been in 5 years pic.twitter.com/9j8yClWo58
— Google Canada (@googlecanada) March 10, 2021
The data shows that searches for housing and mortgage-related inquiries have reached the highest they’ve been in five years. Some of the searches include ‘house for sale,’ ‘mortgage loans,’ ‘mortgage calculators’ and ‘mortgage rates.’
Google Trends shows that Canadians are looking to relocate to places outside the city, such as cottages and are interested in buying properties in suburban or rural areas.
These are the top regions searched for:
- Cannington, ON
- Orléans, ON
- Clarington, ON
- Surrey, BC
- Port Moody, BC
- Kawartha Lakes, ON
- London, ON
- Laval, QC
- Abbotsford, BC
- Langley, BC
Since the real estate industry has seen demand from first-time home buyers, the top questions people are asking about mortgages in the past year are:
- How much mortgage can I afford?
- What is a mortgage?
- What is a reverse mortgage?
- What is a high ratio mortgage?
- How to get pre-approved for a mortgage?
- How to become a mortgage broker?
- What is mortgage insurance?
- What is a second mortgage?
- How does a mortgage work?
Source: Google
