More young Canadians are identifying home ownership as a good investment in 2014, according to the 21st Annual RBC Home Ownership Poll.

The survey found that 86 per cent of those aged 25–34 say that owning a house or condo is a worthwhile investment. This figure was 78 per cent last year.

Intention to buy has increased in most regions across the country, with the majority (62 per cent) of Canadians planning to buy with a spouse or partner.

“The increase in the number of those who feel the housing market is a good investment, as well as the number of those who intend to buy, really highlights that Canadians have no doubt in the strength of the housing market and want to participate more than they have in recent years,” says Erica Nielsen, vice-president of home equity finance at RBC. “These findings, which are uniform across Canada, are the result of a number of factors, including job stability and having saved enough for a down payment.”

According to the poll, four in ten Canadians who are intending to buy within the next two years are first-time homebuyers.