Oshawa Realty Blog

Oshawa Real Estate News and Information

Buying intentions remain strong in GTA

homebuying_tipsWith recent unease in some Canadian markets, the GTA remains confident in the housing market looking forward, according to a poll conducted by Pollara for BMO, released yesterday. According to the survey, 59% of GTA homeowners intend to buy again within the next five years, which is consistent with a similar poll last fall.  Other regions have shown marked declines in intentions (Calgary down 15%), while others are on the rise (Atlantic up 15%).  There was an improvement in mortgage affordability perceptions, with a 10% decline in those needing to make saving or spending cuts in order to afford mortgage payments. When it comes to price changes impacting intent, those in Ontario would not change their minds based on a 5% increase in prices.  If prices rose 10%, though, intentions would drop by 17%. The survey was conducted between February 21 and 27, 2013 on 1,008 Canadian homeowners.

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John Owen, Realtor
Direct: 905-434-0067
Office: 905-240-6777