Home ownership rates fall on P.E.I.

Home ownership rates on P.E.I. have seen the largest drop in the country, according to data from the 2016 census released by Statistics Canada Wednesday.

The rate fell from 74.1 per cent in 2006 to 70.3 per cent in 2016, which is still above the national rate of 67.8 per cent.

Statistics Canada noted the national rate was relatively stable, following a steady increase from 1991 to 2006.

In 2006, P.E.I. had the third highest rate of home ownership in the country, behind New Brunswick and Newfoundland and Labrador. By 2016, its rate had fallen behind Saskatchewan and Alberta.

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