A 2015 Genworth study concluded that, overall:
- first-time buyers tend to have higher incomes than the general population with 31 per cent having household incomes above $100,000
- primarily millennial population
- 81% work full time
- 89% hold a post-secondary education
- 71% are married or in a common-law relationship
- one-fifth of all those surveyed were born outside of Canada (62% having immigrated in the past 10 years)
These folks have done their research and are very well informed when they are searching for their first home. They have saved carefully and will not overpay.