The majority of Canadian homeowners received financial support when purchasing their first property, a new survey from CPA Canada suggests.
Among the 59 per cent of Canadians who said they received help, half of survey respondents aged 18 to 34 received between $50,000 and $499,000 in support, while another 16 per cent of younger Canadians used an inheritance to purchase their home.
“For many young Canadians, homeownership depends on whether they have access to family financial support,” says Li Zhang, financial literacy leader at CPA Canada. “Down payments have grown far faster than wages, and more families are stepping in to help younger generations enter the market.”
Li Zhang
The findings point to an intergenerational wealth transfer increasingly influencing Canada’s housing market, Zhang adds, as older homeowners who benefited from decades of rising property values provide financial support to a generation facing an affordability crisis.
“More Canadians are turning to what amounts to a living inheritance, helping younger generations buy homes earlier rather than passing wealth down later in life,” she says. “Parents want to see their children succeed and achieve financial stability while they’re still here to witness it.”
The findings align with what CPA Canada has identified as the largest generational wealth transfer in Canadian history, with an estimated $1 trillion in assets expected to move from baby boomers to their heirs between 2023 and 2026.
Mario Toneguzzi
Mario Toneguzzi is Managing Editor of Canada’s Entrepreneur. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 and 2024 as one of the top business journalists in the world by PR News. He was also named by RETHINK to its global list of Top Retail Experts 2024, 2025 and 2026.
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