The majority of Ontario residents have high hopes for their local real estate markets and economies, according to a new poll conducted by Ipsos Reid for the Ontario Real Estate Association. In fact, more than half (60%) of Ontario residents see the provincial real estate market as favourable.
“With significantly-improved perceptions across all markets and timeframes, it is clear to see why the index has posted its biggest gain to date,” said the vice president of Ipsos Public Affairs, Sean Simpson. “As home prices and sales figures throughout the province continue to astound, it is encouraging to see the Ontarians are feeling optimistic about economies and real estate markets, both locally and provincially.”
Other highlights from the report include:
The upswing in positive sentiment towards the Ontario real estate market was the highest seen since tracking started three years ago.
The GTA has the best outlook on the local economy with 70 per cent saying their local economy is good, compared to 55 per cent for the whole of Ontario.
63 per cent of GTA residents think their current local real estate market is stronger than a year ago, up from 49 per cent.
Half of Ontario residents see their local market as significantly stronger than a year ago, a 10 point improvement over last year.
Simpson continued, “The last time Ipsos polled on Ontario real estate, perceptions of the province’s economy were more negative. Midway through 2016, the economic mood has improved considerably, and while there is undoubtedly still room for improvement, opinion has rebounded, likely carrying perceptions of the local real estate market along with it.”