A new survey published by the Ontario Real Estate Association has found that 60% of Ontario residents feel that their current local real estate market is favourable, an increase of three points over last year.
“According to the research, Ontarians expect growth in local real estate markets,” said the president of the Ontario Real Estate Association, Patricia Verge. “GTA residents, for example exhibited a considerable swing in sentiment where local real estate markets are concerned.”
In the GTA, 62% of residents feel that their city’s economy is good, while the same number consider their current local real estate market to be favourable.
She continued, “What we’ve noticed with this wave of research, is that on the whole, Ontarians’ perceptions of the provincial economy and real estate market have remained stable year-over-year. It’s when we asked Ontarians about their perceptions of their local markets – their neighbourhood or city/town – that we see a more significant change in sentiment. Naturally, Ontarians are more in tune with what their local markets are doing. This overall increase in positive sentiment therefore, is encouraging.”