The census enumerated 913,000 households who owned a condominium in 2006, up 36.5% from five years earlier. These households accounted for more than one-quarter of the increase in the number of households that owned between 2001 and 2006. Considering that condominium ownership accounts for a much smaller share of the housing market than standard (non-condominium) homeownership, this is an important finding.
In 1981, less than 4.0% of owner households were condominium owners. By 2001, this proportion had more than doubled to 9.0%, and by 2006, it had reached a high of 10.9%.
Percentage of owner households living in a condominium, Canada, 1981 to 2006
Of the 913,000 condominium owners in 2006, just over 60.0% had taken out a mortgage, compared with 58.5% five years earlier.
These condominium owners with mortgages accounted for 11.4% of all mortgage holders in 2006, up from 9.5% in 2001. Similarly, the proportion of condominium owners who did not have a mortgage rose from 8.4% in 2001 to 10.1% in 2006.