Experts have indicated Canada will need to build millions more homes in the next 10 years to meet our growing needs. To the casual observer the problem is easy to solve: just build more homes. For those in the real estate development field, the problem is much more complicated than this.
Canada Day weekend is one of the busiest periods of the year for moving home but where are the top destination cities for those migrating?
A study from van rental firm U-Haul says that despite a 1.8% year-over-year decrease in one-way truck rentals in 2017, Toronto was still far in the lead for incoming do-it-yourself home-movers.
"Toronto has consistently been one of the busiest Canadian cities for incoming U-Haul trucks," noted Antony Grocott, U-Haul Company of Eastern Ontario president.
Calgary was second followed by followed by Edmonton, Ottawa, London, Montreal, Hamilton, Victoria, Kitchener and Vancouver.
Of those, Edmonton and London saw the largest increases in one-way rentals of U-Haul trucks while Vancouver and Montreal saw the largest decreases.
Top 50 U-Haul Canadian Destination Cities
1. TORONTO, ON 2. CALGARY, AB 3. EDMONTON, AB 4. OTTAWA, ON 5. LONDON, ON 6. MONTREAL, QC 7. HAMILTON, ON 8. VICTORIA, BC 9. KITCHENER, ON 10. VANCOUVER, BC 11. BRAMPTON, ON 12. MISSISSAUGA, ON 13. QUEBEC CITY, QC 14. SCARBOROUGH, ON 15. WINDSOR, ON 16. KINGSTON, ON 17. BARRIE, ON 18. OSHAWA, ON 19. KELOWNA, BC 20. SURREY, BC 21. GUELPH, ON 22. WINNIPEG, MB 23. ST. CATHARINES, ON 24. BURLINGTON, ON 25. ETOBICOKE, ON 26. GATINEAU, QC 27. PETERBOROUGH, ON 28. SASKATOON, SK 29. CAMBRIDGE, ON 30. BRANTFORD, ON 31. MONCTON, NB 32. DARTMOUTH, NS 33. ABBOTSFORD, BC 34. LETHBRIDGE, AB 35. NANAIMO, BC 36. GRANDE PRAIRIE, AB 37. SHERBROOKE, QC 38. REGINA, SK 39. KAMLOOPS, BC 40. NIAGARA FALLS, ON 41. BELLEVILLE, ON 42. SUDBURY, ON 43. NORTH VANCOUVER, BC 44. WATERLOO, ON 45. LANGLEY, BC 46. SARNIA, ON 47. RED DEER, AB 48. NORTH BAY, ON 49. NEWMARKET, ON 50. MILTON, ON
While there has been a deceleration in new home sales, we must keep the pedal to the metal and continue to train skilled trades workers for the future.
Many jurisdictions in the U.S. have been thinking outside the box to boost the housing supply. Here in Ontario, we’d be wise to follow suit.
This free summit will feature top experts in Canadian real estate who will share their knowledge on a broad range of topics. It will be presented on Sat. Jun. 18th from 12pm-3pm.
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