Over Half of All Homeowners in the GTA Plan to Buy Again

This is a pretty start contrast when you compare some of the doom and gloom prognostications in the news (but looking back, it’s always doom and gloom, that’s why we keep reading!). About 60% of homeowners polled said that they’re actively planning on buying a new home within the next five years, which is about 10% higher than the national average.

Maybe it’s the new mortgage changes, maybe people are just finding that the market is a little more stable these days. Either way, its good news for both sellers and buyers. The more people buy, the more homes will go on the market, and the more homes that are on the market the more choices you’re eventually going to have with Oakville luxury real estate. It’s win-win all around.

Stark Contrast in Calgary and BC

When looking at these numbers compared with other major markets like Calgary and Vancouver, there’s a very big difference. Consumer confidence just isn’t all that high there when it comes down to it, and with home prices ranging wildly up and down over the last decade we can’t say we blame people for not being certain about where things are going.

Only about a third of those surveyed in Calgary were planning to buy again in the next 5 years, while half of people in Vancouver surveyed said they were willing to buy again – we’re not sure if that’s because prices are starting to come down or just because people like to neighbourhood hop.

While many markets just aren’t going to see the big double digit jumps they’ve become accustomed to these last two years (we’re looking at you Toronto), things are beginning to stabilize. Prices are still climbing, even if sales have taken a little hit. The big Baby Boomer migration from their huge “expensive” luxury homes to teeny tiny cardboard condos didn’t happen, which left a lot of speculators in the dark about where the market’s going to go from here.

What Are You Looking For?

When it comes to finding the home that’s right for you, you’re going to need to have an idea of what you’re looking for. Why do you want to move? Are you growing your family, do you want to be closer to better schools and amenities? Are you looking to right size your life with a smaller more manageable home, or are you trying to find that perfect forever home you’ve always dreamed of?

Whatever you’re looking for, we can help you find it. We’re experienced Oakville luxury realtors that understand buying a home isn’t just about some magical poll number – it’s about finding the place where you belong. Let us help you find the luxury Oakville real estate that’s right for you.

The Goodale Miller Team is based in Oakville, Ontario, specializing in luxury homes for sale, and is Canada’s #1 Century 21 team for 8 years running. 

Contact Information

Mike Smith

Marketing Coordinator

GMT

Contact via E-mail