Local Realtor Says Three Factors Push Toronto Real Estate Market Higher

Randy Selzer, a real estate agent based in Mississauga, Ontario, says that three factors are contributing to the upwards trend in the Toronto real estate market. These factors are the historic low interest rates, a booming local economy, and surging immigration into the area. The existence of these three factors support ongoing price appreciation for both sales and rentals in the Greater Toronto Area . Randy Selzer has published an article titled “Toronto Real Estate Market Explained Plus 2019 Forecast,” where he reviews the state of the Toronto real estate market in 2019 and provides three reasons why it will not crash. This article can be accessed on his website at https://www.randyselzer.com/toronto-real-estate-market-2019-forecast/.

Randy Selzer explains, “I’ve always maintained that there are three things, or what I like to call three pillars, that are driving the market. And those three pillars are number one, low interest rates, number two, a good economy, and number three, immigration. Those are the three factors, which have boosted our local real estate market over the past several years. That has created an imbalance because we’ve actually become too successful and nobody planned for that.”

Randy further explains that while people had expected interest rates to rise because of the booming economy, the opposite actually happened. What happened was that the Government of Canada decided not to increase interest rates in 2019. Now experts are predicting that the Canadian government will likely keep interest rates low throughout the year,especially in view of the fact that 2019 is an election year in Canada.

Meanwhile, the second contributing factor to the becoming Toronto real estate marked is the strength inthe local economy as a result of a tech boom in the city. Tech companies are expanding rapidly, and are offering thousands of highly paid jobs. This turn creaes a buyer's pool with lots of disposable income, further incresing demand for houses and condominiums. One measure of the strength of the local economy is the record-breaking amount of new construction going on in Toronto.

The third factor contributing to the resilience of the real estate market is the ongoing significant number of immigrants being admtted to Canada every year. According to the Canadian government, around 330,000 people are expected to be admitted int the country in 2019. Studies show that approximately one third of those immigants end up in the Greater Toronto Area (GTA), meaning that about 100,000 new immigrants are expected to move there this year alone. Relentless immigration further fuels the demand for homes, condos and townhomes in the area.

In summary, Randy Selzer’s forecast for the rest of 2019 for Toronto real estate remains bullish because of the presence of the above-mentioned three factors.While the three factors remain robust, the market will maintain its strength.

The Randy Selzer website offers a multiple listing service for homes, condos and townhomes for sales in Mississauga, which includes Clarkson, Lorne Park, Port Credit, Erin Mills, Fairview, Lakeview, Mineola, and Cooksville. The search service for the listing offers custom creation of preset searches for the areas preferred by the searcher allowing people to focus on those areas they are nterested in.

Those interested in looking for a home, condo or townhouse can visit the Randy Selzer website at https://www.randyselzer.com or contact them by phone or by email.