Younger homebuyers more willing to fight bidding wars: survey

By Staff | May 18, 2021 | Last updated on May 18, 2021
1 min read
Home For Sale Real Estate Sign in Front of Beautiful New House.
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Younger adults are more willing to go to war — a bidding war, that is — for their dream home.

According to a survey commissioned by Toronto-Dominion Bank, 51% of adults under 35 said they’re prepared to offer above list price for a dream home.

Older survey participants were less enthusiastic about bidding wars: 31% of respondents between 35 and 54 said they’d be prepared to go above asking. Only 18% of respondents aged 55 and older were game for a bidding war.

The survey also found that some bidders are more competitive — and have deeper pockets — than others.

TD reported that 19% of competitive bidders were willing to offer up to $50,000 over the asking price of a home, while 13% were willing to go $50,000–$100,000 over asking — or even higher.

Depending on the size of their down payment, those competitive bidders could soon be paying even more for a home, with the Office of the Superintendent of Financial Institutions proposing a tougher stress test for uninsured mortgages.

TD commissioned Ipsos to conduct an online poll of 1,001 adults in Canada between March 31 and April 6. Online polls cannot be assigned a margin of error because they do not randomly sample the population. staff


The staff of have been covering news for financial advisors since 1998.