2014 Will Be a Good Year to Buy, Ontarians Say
The New Year has brought a renewed sense of optimism for a majority of Ontarian investors who are planning to capitalize on favourable economic conditions during 2014.
Forget about the icy conditions sweeping across the province, the Ontario market is proving a very big hotspot for many opportunistic investors.
Two in three Ontarians are intending to buy a home in the next two years, thanks to ‘good’ economic conditions, according to a new survey by the Ontario Real Estate Association (OREA). Many investors are also looking to cash in on these favourable market conditions, with six in ten planning to sell up by the end of 2015.
“Consumers seem to be echoing a similar sentiment for the 2014 real estate market. Prospective buyers and sellers in particular are also more likely to believe the overall economy is strong, which may be why they’re considering buying or selling their home in the next two years,” says Sean Simpson, vice president, Ipsos Public Affairs.
While the current low interest rate and positive consumer sentiment is fuelling this short-term optimism in real estate, around 50 per cent of those surveyed say they believe the market will continue to strengthen within the next ten years.