Canadian real estate trends are growing with the speed in which people are living and working – fast. It can be hard to keep up. We’ve done the research for you and distilled down the top three trends for the Canadian Real Estate market in 2019.
INDUSTRY SPECIFIC TECHNOLOGY
From the planning stages, builders like National Homes, are incorporating new technology in many ways to meet new home buyers’ expectations:
● Sustainable building and construction products
● Virtual home assistants such as the Amazon Echo
● Security and home monitoring systems
● Smart bathrooms and kitchens
● Environmental controls for lighting and thermostats
● Preparing for autonomous vehicles
● Blockchain and online purchasing options
The market for single-family homes and condos is continuing to grow, but with tightening mortgage rules, more and more buyers are choosing multi-family homes. In fact, in 2018 over $3.1 billion worth of multi-family building permits were reported to Statistics Canada. Other property types that are continuing to experience growth are purpose-built rentals and senior lifestyle housing.
MARKETS TO WATCH
Toronto continues to be ranked tops across the ten Canadians markets, with the GTA set to hit its tenth straight year of growth particularly within the suburban market. Young adults are always looking for single-family homes where they can start their families. Over 700,000 of these first-time buyers are expected to hit the market over the next decade, and they want homes in areas that are walkable and transit-oriented, so growth is expected to continue in the suburban direction for some time.
The new 2019 Real Estate market is promising to be a transformative one, full of new opportunities for innovation and efficiencies. Happy New Year!