By Toronto Real Estate Board
On January 18, 2016 the Toronto Real Estate Board released its inaugural Market Year in Review & Outlook Report.
For REALTORS®, this report provides valuable insight and perspective that will prove to be of value for GTA residents who rely on REALTOR® services. The report will help consumers, home buyers, home owners, REALTORS®, and industry stakeholders better understand the market. Read on to learn how this report will impact everyone.
The Home Buyer
The report features never before seen results of Ipsos Reid surveys of recent and intending home buyers. For the first time, there is access to data on what people buying a home in the year ahead plan to spend, where they want to live, and what type of mortgage they will take on. This will provide a better take on where the market is at and will allow us to better judge where the market is going.
Information captured in TREB’s Outlook Report will help REALTORS® assist their clients to make more informed decisions regarding the real estate market. It can also benefit clients by helping them to feel secure about their choice to invest in home ownership. At the launch event, Benjamin Tal, CIBC World Markets Deputy Chief Economist called 2016 a year of transition for the global economy and stressed the need for the real estate industry to provide consumers with more information about the market.
The Economy & Greater Golden Horseshoe Region (GGH)
Another key aspect of this report concerns how we can improve our quality of life and economic competitiveness of the region in which we live. We all know that the GTA and the broader Greater Golden Horseshoe Region is a world-class region. Our aspiration should be to continue to improve our region’s global reputation and competitiveness until we reach alpha status as a top tier global region. The GTA and the GGH consistently rank as one of the top urban areas to live and do business because of the economic and cultural opportunities the region affords to existing residents, as well as newcomers to the region from across Ontario, Canada and the globe.
As our great region continues to attract the best and brightest from around the world, REALTORS® will use the knowledge they glean from this report to connect the right buyer to the right seller and help newcomers to the region settle into one of our fantastic communities.
To learn more, talk to a Toronto Real Estate Board Professional Member REALTOR® and visit www.TREBHome.com. If commercial property is what interests you, contact a TREB Commercial Professional Member REALTOR® by visiting www.trebcommercial.com.
View the full Market Year in Review & Outlook Report here.