April 2022

Dear Friend

As expected, the spring market kicked off with10,955 homes sold, the third-best March and second-best first quarter on record. The average price in March was $1,299,894, bringing the year-to-date average to $1,299,591, up 18.6 % over the 2021 year-end average of $1,095,381.

As I wrote in January, “Don’t panic”! Prices will continue to increase in 2022, (about 10%) but not at the same rate as they did in 2021. There were 20,038 properties listed in March, providing more choices for buyers, a move towards a more balanced market of supply and demand. BUT…. don’t read this as prices coming down. As more homes come up for sale in the next few months, house prices will still continue to increase, as there is more demand than supply.

Due to the government’s commitment of increasing Canada’s population by over 1.2 million new immigrants over the next 3 years, the population of the GTA will continue to experience rapid growth as our economic strength and diversity continues to attract people from around the world. In order for prices to remain reasonable, housing supply has also to increase substantially. The holdup? Government red tape in not permitting developers and builders to bring more houses to market. The process of getting building permits is unnecessarily slow and tedious! While I am optimistic that this process will become more streamlined one day, I’m pessimistic about how long consumers have to suffer due to this bureaucracy.

In the meantime, we have a great market! It’s a good opportunity to build an investment portfolio because we know that demand for housing will continue to increase. That means higher rents which will sustain higher costs. If you have children who will be entering university over the next few years, you might consider purchasing a condominium now for them to use later. For some, their home is their best investment, and if that’s the case with you, perhaps now is the time to buy that bigger home that you’ve always wanted.

The key to making a wise choice is having a good investment advisor. I have the knowledge, experience and the resources of a great company to help you achieve your goals. Give me a call, let’s discuss the future!

Have a great April!

正如預期的那樣,春季市場已賣出 10,955 間房屋, 3 月份的平均價格為 $1,299,894 ,因此年初至今的平均價格為 $1,299,591,比 2021 年年底的平均價格 $1,095,381上漲 18.6%。

正如我在一月份寫的那樣,“不要驚慌”! 2022 年房價將繼續上漲(約 10%),但漲幅與 2021 年不同。3 月份掛牌出售的房屋為 20,038間,為買家提供更多選擇,令市場的供求更加平衡。 但…… 不要誤以為這是房屋價格在下跌。隨著未來幾個月越來越多的房屋上市,房價仍將繼續上漲,因為現時此終是供不應求。

由於政府承諾在未來 3 年內將加拿大的人口增加超過 120 萬新移民,另外,由於加拿大的經濟實力和多元化會繼續吸引來自世界各地的人們,GTA 的人口將繼續經歷快速增長。為了令房屋價格保持合理,住房供應也必須大幅增加。但…… 政府不允許開發商和建築商將更多房屋推向市場的繁文縟節,以及取得建築許可的過程仍然是十分的緩慢!雖然我樂觀地認為這一過程有一天會變得更加精簡,但我對這種官僚主義持悲觀態度。