2018 Modern Family Home Ownership Trends Report

A new report by Mustel Group & Sotheby’s International Realty Canada reveals the impact of rising housing costs on young families across the country’s major metropolitan real estate markets, highlighting the significant contrast between the home ownership aspirations & realities of this demographic.

The first in a multi-part series focused on the home ownership trends of young urban families, the report is based on findings from a survey of 1,743 families in the Vancouver, Calgary, Toronto and Montreal Census Metropolitan areas, with a focus on those between the ages of 20 and 45.

Despite challenges in affordability and compromises made in home ownership, survey results revealed that levels of satisfaction, as well as confidence in the real estate market is high. While 82% of young families feel they have made compromises in the home they purchased, 93% are “very” or “somewhat satisfied” with their home. 78% of young, urban Canadian families believe their home will either outperform or match the performance of their financial investments in the next five years, with 48% stating that real estate will outperform financial investments.

The full report is available to read here.

November 9th, 2018

Posted In: Market Updates

Leave a Comment

2018 Fall Market Forecast

According to Sotheby’s International Realty Canada’s 2018 Fall Market Forecast just released, the top-tier real estate market in the Greater Toronto Area (GTA) is poised to rebound this fall as consumer confidence rallies. Apprehension following the introduction of the Ontario Fair Housing Plan in 2017 and the tightening of mortgage lending rules and rising rates earlier in 2018 have dissipated; pent up consumer demand coupled with renewed top-tier listing activity is expected to propel gains in sales, velocity and pricing across all housing segments to the end of 2018.

“Toronto’s top-tier real estate market is positioned for a turnaround this fall. Since the introduction of Ontario’s Fair Housing Plan in April 2017, the market has maintained ground in spite of rapid policy changes, as well as rising mortgage rates and tighter lending guidelines. Market psychology has now adjusted and we expect the fall market to be more active,” says Brad Henderson, President & CEO, Sotheby’s International Realty Canada.

Read the full 2018 Fall Market Forecast here.

September 27th, 2018

Posted In: Market Updates

Leave a Comment