Over Half of All Homeowners in the GTA Plan to Buy Again
Over half of all homeowners across the GTA are planning to buy another home within the next five years, according to a recent survey by the Bank of Montreal.
This is a pretty start contrast when you compare some of the doom and gloom prognostications in the news (but looking back, itís always doom and gloom, thatís why we keep reading!). About 60% of homeowners polled said that theyíre actively planning on buying a new home within the next five years, which is about 10% higher than the national average.
Maybe itís 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 youíre eventually going to have with Oakville luxury real estate. Itís win-win all around.
Stark Contrast in Calgary and BC
When looking at these numbers compared with other major markets like Calgary and Vancouver, thereís a very big difference. Consumer confidence just isnít all that high there when it comes down to it, and with home prices ranging wildly up and down over the last decade we canít 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 Ė weíre not sure if thatís because prices are starting to come down or just because people like to neighbourhood hop.
While many markets just arenít going to see the big double digit jumps theyíve become accustomed to these last two years (weíre 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 ďexpensiveĒ luxury homes to teeny tiny cardboard condos didnít happen, which left a lot of speculators in the dark about where the marketís going to go from here.
What Are You Looking For?
When it comes to finding the home thatís right for you, youíre going to need to have an idea of what youíre 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 youíve always dreamed of?
Whatever youíre looking for, we can help you find it. Weíre experienced Oakville luxury realtors that understand buying a home isnít just about some magical poll number Ė itís about finding the place where you belong. Let us help you find the luxury Oakville real estate thatís right for you.
The Goodale Miller Team is based in Oakville, Ontario, specializing in luxury homes for sale, and is Canadaís #1 Century 21 team for 8 years running.†
- Contact Information
- Mike Smith
- Marketing Coordinator
- Contact via E-mail
This news content may be integrated into any legitimate news gathering and publishing effort. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.