One in five homes are bought by newcomers to Canada, according to a new survey published Wednesday that describes the purchases as vital in strengthening the national real estate market.

Royal LePage, a real estate company based in Toronto, said its 2019 survey suggests that if the current international migration level is maintained, Canadian newcomers are expected to purchase 680,000 homes over the next five years.

“In addition to supporting Canada’s economic growth, newcomers to Canada are vital to the health of our national real estate market,” Phil Soper, president and CEO of Royal LePage, said. “It is not surprising that newcomers see a home in Canada as a good investment.”

In August, surveyors spoke to about 1,500 people, all of who moved to Canada within the last 10 years, including refugees, immigrants and students. It found that newcomers represent about 21 per cent of all homebuyers in Canada.

In Ontario specifically, the report said that 46 per cent of all Canada’s newcomers call the province their home. It also noted that the homeownership rate of newcomers residing in the Greater Toronto Area is 32 per cent.

“Ontario, and more specifically the Greater Toronto Area, has greatly benefited from international migration to Canada,” said Chris Slightham, president of Royal LePage Signature Realty, said in a news release.

“This demand is creating upward pressure on our real estate market. We expect this momentum to continue as the GTA remains a desired world class destination.”

The survey found that newcomers spend only about three years in Canada before buying a home and that about 75 per cent of newcomers arrive with savings to help them do so.

Of newcomers who buy a home, the survey said that about 51 per cent buy a detached house, 18 per cent buy a condo, 15 per cent buy a townhouse and 13 per cent buy a semi-detached house.

More than 82 per cent of newcomers stay in the region where they first settled, the report said. Most of them, about 54 per cent, said they came to Canada because it is a good place to work and live.

Seventy-five per cent said they never considered moving to the United States because Canada is more welcoming.