In this episode of Investor Insight, CREW TV explores the reasons why investors are heading to Western Canada and why they can't afford to abandon the east.
CREW's Jemima Codrington talks to Sam Hosseini of online realty TheRedPin.com and Leslie Quinsay of Coridian Capital.
Video transcript below:
Go west young real estate investor. Hi, I’m Jemima Codrington and welcome to Investor Insight on Crew TV.
From sky high prices in Toronto to Alberta’s bustling oil industry to say nothing of its [micro workers]. The reason that a number of investors are looking west are many. Still taking that big leap of faith is often fraught with doubt.
Leslie Quinsay, Director, Coridian Capital
Leslie Quinsay: A lot of Ontarians today are actually getting away from the notion of having to invest in their own backyard. They are recognising that when you are investing, you are looking at an area with a future, not necessarily a past and so a lot of them are looking westwards towards provinces such as Alberta.
Alberta is expected to have strongest economic growth in Canada over the next few years. It’s a commodity driven economy. So you know basically it will have increased job growth as they explore and develop the natural resources there. But all things that are favourable for an investor when they are looking for a region to invest in.
Jemima Codrington: But investors need to be careful not to throw the [DTA] out with the bath water. Canada’s biggest market remains key, despite [other light] challengers. Again there are many reasons why.
Sam Hosseini, The RedPin. Com
Sam Hosseini: You know I understand that people are looking out west and afraid of price hikes in the city of Toronto and the greater Toronto area, but unlike cities like Vancouver which are confined to an area, the city of Toronto has immense space to grow west, we are growing east, we are growing west, we are growing north, the 905 area has grown and we think that eventually the supply, the income and supply will balance them out.