More than one-third of B.C. residents worried about rent, mortgage payments: poll

A seaplane takes off from the harbour under low cloud above the downtown skyline, in Vancouver, Thursday, Aug. 6, 2020. (Darryl Dyck / THE CANADIAN PRESS)

Most British Columbians are dissatisfied with their current financial situation, with more than one-third of respondents to a recent survey saying they worry "frequently" or "occasionally" about being able to pay their rent or mortgage.

That's according to the results of a Research Co. poll, released Wednesday, indicating 52 per cent of B.C. residents are unhappy with their finances, with the province roughly aligning with the national average of 51 per cent of respondents who reported the same sentiment.

In January, that national average was 42 per cent, indicating a souring economic mood across the country, according to the results of earlier survey from the same firm.

Alberta residents are reporting the highest economic uncertainty in the country, with 62 per cent of respondents rating their personal finances as "poor" or "very poor."

Canadians in Saskatchewan and Manitoba reported the least economic stress, though 46 per cent of residents in those Prairie provinces still said they were dissatisfied with their economic outlook.

Trudeau vs. Poilievre

More than one-third of Canadians (36 per cent) trust Prime Minister Justin Trudeau to steer the economy in a positive direction, down two percentage since January, according to the Research Co. poll.

Opposition leader Pierre Poilievre earned higher trust on the economy, with the 41 per cent of respondents saying they have faith the Conservative leader would handle the country's finances adequately. However, Poilievre's favourability on the economy also fell two percentage points since January.

Economic trust in the Conservative leader is highest in Alberta (54 per cent), followed by Ontario (45 per cent), B.C. (37 per cent) and Quebec (31 per cent), according to the poll.

Conversely, the Prime Minister's highest economic support was found in Quebec (44 per cent), followed by 36 per cent in B.C., 35 per cent in Ontario and 22 per cent in Alberta.

The survey indicates Canadians' concerns about economic inflation are still growing, with 76 per cent of respondents saying they expect to pay more for groceries in the next six months than they do today.

Similarly, 77 per cent believe they will pay more at the gasoline pump, 68 per cent say they expect to pay more for a new car, and 65 per cent expect the price of real estate to increase into next year.

Across the country, other economic stresses are also growing. The Research Co. poll indicates 42 per cent of respondents are worried about being able to pay their rent – up eight per cent since January.

Worries about unemployment also increased eight per cent since the start of the year, with 42 per cent of Canadians concerned that joblessness will affect their household.

The poll results are based on an online survey of 1,001 Canadian adults queried between Aug. 5 and Aug. 7, with the data statistically weighted according to census figures for age, gender and region. The margin of error, which measures sample variability, is plus or minus 3.1 percentage points, 19 times out of 20.