Mortgages, inflation and immigration among top concerns for Canadians in 2024: Nanos survey

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As the new year kicks off, the top concerns of Canadians for 2024 are the cost of living and immigration, according to a recent survey by Nanos Research.

The survey found that half of Canadians who have a mortgage are “concerned” or “somewhat concerned” about making payments, 35 per cent of respondents want the House of Commons to prioritize the cost of living, and up to 61 per cent of those surveyed want Canada to “accept less immigrants.”

More than 1,000 Canadians aged 18 or older were surveyed from Dec. 27 to 29, 2023.

MORTGAGE PAYMENTS

Nanos found that one in two Canadians with a mortgage say they are concerned (24 per cent) or somewhat concerned (28 per cent) about the ability to make their mortgage payments when their mortgage renews.

The data shows that younger Canadians between 18 and 35 years old are more likely to be concerned (29 per cent) or somewhat concerned (34 per cent) about mortgage payments.

Canadians 55 and older demonstrated notably less worry, with only 16 per cent sharing they are concerned and 20 per cent saying they are somewhat concerned about mortgage bills.

The data also shows a disparity of concern between men and women. Twenty-six per cent of women expressed they are concerned and 33 per cent said they are somewhat concerned about mortgage payments. On the other hand, 22 per cent of men expressed they are concerned and 33 per cent said they are somewhat concerned.

HOUSE OF COMMONS PRIORITY HOPE

When Canadians were asked what issues should be prioritized by the House of Commons in 2024, 35.4 per cent of respondents said the rising cost of living.

Among these respondents, 32 per cent were men and 38 per cent were female.

Nearly half (44.5 per cent) of younger Canadians aged 18 to 34 said addressing the rising cost of living was a priority for them. Forty-one per cent of adults aged 35 to 54 stood by the same priority, and 25 per cent of adults 55 and older also expressed that the cost of living should be a major focus.

Other top priorities included health care, with 13.8 per cent of respondents indicating it was a priority for them, housing (13.1 per cent), and the environment (10.9 per cent).

IMMIGRATION

Nanos also found that an increasing proportion of Canadians want the country to accept fewer immigrants in 2024 compared to 2023. Sixty-one per cent of respondents shared this view, an eight per cent increase from September 2023.

The data found that the proportion of Canadians who want to accept more immigrants continues to decline, from 17 per cent in 2020 to five per cent in the survey.

The majority of Canadians surveyed who hope Canada will accept fewer immigrants live in the Prairies (68.1 per cent) and Ontario (67.1 per cent).

The top reason attributed to this opinion is the housing crisis, with 31 per cent saying it’s because there’s “nowhere to live.”

About 24 per cent said Canada should accept fewer immigrants because the country doesn’t have the infrastructure, social services and resources to support them.

METHODOLOGY

Nanos conducted a hybrid telephone and online random survey of 1,006 Canadians, 18 years of age or older, between Dec. 27 to 29, 2023 as part of an omnibus survey.

Participants were randomly recruited by telephone using live agents and administered a survey online. The sample included both land and cell lines across Canada. The results were statistically checked and weighted by age and gender using the latest census information and the sample is geographically stratified to be representative of Canada.

The margin of error for this survey is ±3.1 percentage points, 19 times out of 20.