Housing Outlook For Ontario Is Strong Going Into 2017

By: Marilyn Rogers

Housing Outlook For Ontario Is Strong Going Into 2017

The Ontario real estate outlook is strong going into the winter months, according to the Ontario Home Ownership Index, a tool developed by the Ontario Real Estate Association, which measures home ownership trends and perceptions.
 
The Home Ownership Index is now at 131 points, which is an all-time high.
 
Some of the highlights of the latest research include:
 
55% (up 5% from last year) of Ontario residents think the current real estate market in neighbourhood is favourable, while 51% (up 11% from last year) of Ontario residents think the real estate market in their city is stronger than last year. 
 
43% (up 5%) of Ontario residents think their city’s real estate market will strengthen in the next year.
 
14% of Ontarians are planning on buying a home  in the next two years, an increase of 3%.
 
15% of Ontario residents say they’re planning on selling their home within the next 24 months, an increase of 4% over last year.
 
“According to the results, it is likely that perceptions of strengthening markets will continue in Ontario into the foreseeable future,” said the Chief Executive Officer of the Ontario Real Estate Association, Tim Hudak. “Despite rising house prices in the GTA, buyers remain optimistic. In fact, even more Ontarians than last year say they intend to buy in the future. This speaks to the value of home ownership and the timelessness of this all-important commodity.”
 
What do you think? How do you feel about the real estate market in your neighbourhood?