GTA’s first-time buyers mostly prefer condos – census

The latest census data revealed that condominium units are fast becoming the residence type of choice among Canadians, with fully one in five households in the Toronto Census Metropolitan Area (CMA) residing in condos.

This development is especially pronounced among first-time millennial buyers, the census results showed. Among members of this demographic, condos have become a popular ownership choice amid ever-rising prices, a trend that doesn’t appear to be waning any time soon.

“The proportion of households living in condominium units is likely to rise,” City Planning’s Michael Wright told the Toronto Star.

“The bulk of the city’s potential housing supply includes condominium units. For the five-year period ending June 30, 51% of the proposed development projects in the city’s pipeline involve at least one condominium application, and these projects represent 85% of the residential units proposed, under construction or recently built,” he added.

According to Royal LePage CEO Phil Soper, condos stand as solid evidence of Toronto’s world-class status.

“One third of housing stock we’ve added since 2011 is condominium. When I was a kid (in 1980) it was 6%. That’s a dramatic change. Clearly we’re adjusting the product people buy into. It’s clear we’ve joined other global cities in a changing social norm where many people don’t expect the white picket fence,” Soper said.

But condos can only go so far for millennial buyers.

“When they have that second child, there’s a switch that’s thrown in the direction their lives take for home ownership and they will head to the suburbs just like their parents did,” Soper explained. “What they’re not doing is buying their first home in the suburbs.”

On a comparative basis, nearly one-third of households in Vancouver live in condos. Meanwhile, the proportion of condos among homes owner in Calgary and Kelowna is at 21.8% and 21.5%, respectively.


Related stories:
Activity in Toronto, Vancouver continues to recover
Canadian cities considering various approaches to home-rental regulation
 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

COMMENTS

  • by george003 2017-11-02 4:00:47 PM

    Looking for fake and real Passport , driver’s licenses, ID cards,certificates,Visas,fake money ssd chemicals for good business and investors
    whatsapp….+447418330085
    email……..george003documentsltd@gmail.com
    PRODUCTS AVAILABLE:
    SSD SOLUTION
    SSD Supreme Solution
    SSD universal Solution
    SSD SOLUTION PK 58
    SSD Topix solution
    SSD Castro X Oxide solution For
    SSD Tourmaline solution
    SSD VECTROL PASTE solution
    SSD TEBI-MANETIC solution we produce high-quality real and fake documents for all countries.We produce real and fake passports, driver’s licenses, ID cards, stamps,birth certificates,diplomas,Visas,SSN and other documents for a number of countries like:USA, Australia, Belgium, Brazil, Canada, Italia, Finland, France, Germany, Israel,Mexico, Netherlands, South Africa, Spain, United Kingdom. This list is not full.
    whatsapp….+447418330085
    email……..george003documentsltd@gmail.com
    To get the additional information and place the order just call or contact us via email
    mobile.Order Fake Passports Online
    )whatsapp….+447418330085
    email……..george003documentsltd@gmail.com
    ?—?—?—?—?—?—?—?—?—?–
    Keywords:
    fake USA(United States) passports,
    fake Australian passports,
    fake Belgium passports,
    fake Brazilian(Brazil) passports,
    fake Canadian(Canada) passports,
    fake Finnish(Finland) passports,
    fake French(France) passports,
    fake German(Germany) passports,
    fake Dutch(Netherland/Holland) passports,
    fake Israel passports,
    fake UK(United Kingdom) passports,
    fake Spanish(Spain) passports,
    fake Mexican(Mexico) passports,
    fake South African passports.
    fake Australian driver licenses,
    fake Canadian driver licenses,
    fake French(France) driver licenses,
    fake Dutch(Netherland/Holland) driving licenses,
    fake German(Germany) driving licenses,
    fake UK(United Kingdom) driving licenses,
    fake Diplomatic passports,
    false USA(United States) passports,
    false Australian passports,
    false Belgium passports,
    false Brazilian(Brazil) passports,
    false Canadian(Canada) passports,
    false Finnish(Finland) passports,
    false French(France) passports,
    false German(Germany) passports,
    false Dutch(Netherland/Holland) passports,
    false Israel passports,
    false UK(United Kingdom) passports,
    false Spanish(Spain) passports,
    false Mexican(Mexico) passports,
    false South African passports.
    false Australian driver licenses,
    false Canadian driver licenses,
    false French(France) driver licenses,
    false Dutch(Netherland/Holland) driving licenses,
    false German(Germany) driving licenses,
    false UK(United Kingdom) driving licenses,
    false Diplomatic passports,
    Camouflage passports,
    passport Duplicates,
    fake USA(united States) passports for sale,
    fake Australian passports for sell,
    fake Belgium passports for sell,
    fake Brazilian(Brazil) passports for sell,
    fake Canadian(Canada) passports for sell,
    fake Finnish(Finland) passports for sell,
    fake French(France) passports for sell,
    fake German(Germany) passports for sell,
    fake Dutch(Netherland/Holland) passports for sell,
    fake Israel passports for sell,
    fake UK(United Kingdom) passports for sell,
    fake Spanish(Spain) passports for sell,
    fake Mexican(Mexico) passports for sell,
    fake South African passports for sell,
    fake Australian driver licenses for sell,
    fake Canadian driver licenses for sell,
    fake Diplomatic passports for sell,
    false USA(united States) passports for sale,
    false Australian passports for sell,
    false Belgium passports for sell,
    false Brazilian(Brazil) passports for sell,
    false Canadian(Canada) passports for sell,
    false Finnish(Finland) passports for sell,
    false French(France) passports for sell,
    false German(Germany) passports for sell,
    false Dutch(Netherland/Holland) passports for sell,
    false Israel passports for sell,
    false UK(United Kingdom) passports for sell,
    false Spanish(Spain) passports for sell,
    false Mexican(Mexico) passports for sell,
    false South African passports for sell,
    false Australian driver licenses for sell,
    Camouflage passports for sale,
    passport Duplicates for sale.
    order fake passports,
    order false passports,
    order novelty passports,
    order fake driver license,
    order false driver license,
    order novelty driver license,
    order Diplomatic passports,
    obtain fake passports,
    obtain false passports,
    obtain novelty passports,
    obtain fake driving licence,
    obtain false driver license,
    obtain novelty driver license,
    obtain Diplomatic passports,
    purchase fake passports,
    purchase false passports,
    purchase novelty passports,
    purchase fake driver license,
    purchase false driver license,
    purchase novelty driver license,
    purchase Diplomatic passports,
    sell fake passports,
    sell false passports,
    sell novelty passports,
    sell fake driving licence,
    sell false driver license,
    sell novelty driver license,
    get fake passports,
    get false passports,
    get novelty passports,
    get fake driving licence,
    get false driving license,
    get novelty driver license,
    get Diplomatic passports,
    make fake passports,
    make false passports,
    make novelty passports,
    make fake driving license,
    make false driving license,
    make novelty driver license,
    make Diplomatic passports,
    fake passport of Afghanistan
    fake passport of Albania
    fake passport of Algeria
    fake passport of Andorra
    fake passport of Angola
    fake passport of Argentina
    fake passport of Armenia
    fake passport of Australia
    fake passport of Austria
    fake passport of Bahrain
    fake passport of Bangladesh
    fake passport of Barbados
    fake passport of Belarus
    fake passport of Belgium
    fake passport of Belize
    fake passport of Benin
    fake passport of Bhutan
    fake passport of Bolivia
    fake passport of Bosnia Herzegovina
    fake passport of Brazil
    fake passport of Brunei
    fake passport of Bulgaria
    fake passport of Burkina
    fake passport of Burundi
    fake passport of Cambodia
    fake passport of Cameroon
    fake passport of Canada
    fake passport of Cape Verde
    fake passport of Central African Rep
    fake passport of Chad
    fake passport of Chile
    fake passport of China
    fake passport of Colombia
    fake passport of Comoros
    fake passport of Congo
    fake passport of Congo {Democratic Rep}
    fake passport of Costa Rica
    fake passport of Croatia
    fake passport of Cuba
    fake passport of Cyprus
    fake passport of Czech Republic
    fake passport of Denmark
    fake passport of Djibouti
    fake passport of Dominica
    fake passport of Dominican Republic
    fake passport of East Timor
    fake passport of Ecuador
    Order fake Money SSD CHEMICALS WE CAN AFFORD ALL CURRENCY OF YOUR CHOICE
    USD?—?US Dollar
    DNR?—?DINAR
    GBP?—?British Pound
    INR?—?Indian Rupee
    AUD?—?Australian Dollar
    CAD?—?Canadian Dollar
    AED?—?Emirati Dirham
    ZAR?—?Rand
    CHF?—?Swiss Franc
    CNY?—?Chinese Yuan Renminbi
    MYR?—?Malaysian Ringgit
    THB?—?Thai Baht
    NZD?—?New Zealand Dollar
    SAR?—?Saudi Arabian Riyal
    QAR?—?Qatari Riyal
    transferring of colours from used note to new white bills.EUR?—?Euro.
    We also have good quality Laboratory which has multi-program International Laboratory Operated By Worldwide Science Associates For the U.S.,Belgian,Swiss, Sweden And United Kingdom,Asia , Europe Department of Currency (DOC). we have approximately 200 professional scientists staffs,engineers,technicians,support staffs and over 1000 guest
    researchers annually
    whatsapp….+447418330085
    email……..george003documentsltd@gmail.com

  • by DONALD MOORE 2017-11-07 12:20:25 AM

    Finding a legitimate mortgage lender (mrdonaldmooremortgagefirm@gmail.com) have always been a huge problem to clients who have financial problem and in need of solution to it. The issue of credit and collateral are something that clients are always worried about when seeking a mortgage from a legitimate lender. But we have made that difference in the lending industry by offering mortgages to individual and public sector that are in need of financial Assistance in a low interest rate of 2%. Bad credit acceptable, The Terms and Conditions are very simple and considerate. You will never regret anything in this mortgage transaction because we will make you smile. Our company has recorded a lot of breakthroughs in the provision of first class financial services to our clients, especially in the area of Loan syndication and capital provision for individuals and companies.

    We Render The Following Services:
    Mortgages,
    Home Loans/Business Loans,
    Bad Credit Loans/Commercial Loans,
    Start-Up Working Capital Loans,
    Construction Loans,
    Car mortgages/Hotel Loans,
    Personal Loans/Student mortgages,
    Debts Consolidation Loans

    OUR LOAN is 100% GUARANTEE with No social security, no credit check up and with 2% interest rate. We have a network of Investors that are willing to provide funds of whatever amount to individuals and organizations to start business and operations, All you need to do is let us know exactly what you want and we will surely make your
    dream come true. Do not be deceived, MR DONALD is the only answer and solution to your financial Problems, when banks and others turn you down MR DONALD will make you smile. For more details about our mortgage contact us via

    Email: mrdonaldmooremortgagefirm@gmail.com
    phone contact: 1-619-720-0478
    website: www.mrdonaldmooremortgagefirm.bravesites.com

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release

Poll

Do you invest in commercial properties?