Ontario Real Estate Outlook and Trends 2016
What do Ontarians really think of the current real estate market? Ontario Real Estate Association (OREA) has partnered with global research firm, Ipsos Reid, to develop The Ontario Home Ownership Index, revealing the latest market outlook and home ownership treads.
Compared to one year ago, local real estate markets are stronger say a growing number of Ontarians; and optimism for the year ahead increases most among Toronto residents.
Below are some of the findings:
TORONTO, January 14, 2016 – Residential real estate markets are stronger now than they were a year ago, said 40 per cent of Ontarians about their respective cities, up from 33 per cent last year, according to the Ontario Home Ownership Index, a semi-annual survey by the Ontario Real Estate Association (OREA). Looking ahead to the next year, four-in-ten (38%) Ontarians say their city’s real estate market will be stronger (up 2 points).
Optimism for the year ahead is highest among GTA residents, 46% of which said they forecast a stronger real estate market in 2016 (up 6 points from last year). Torontonians in particular showed the greatest increase in confidence – nearly half (46%) say Toronto’s real estate market will be stronger this year, up from 35% a year prior.
“As Toronto’s real estate market continues to make headlines, residents in the 416 believe that it has the potential to become stronger still in the next year,” says Sean Simpson, vice president, Ipsos Public Affairs
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