Like newlyweds Vineet Mrug and Kushbu Mistry, who relocated to Calgary from their hometown of Toronto last year, some residents of the GTA and other hot Ontario markets are moving to Alberta for what they believe is their last opportunity to own an affordable piece of real estate in a large Canadian city.
Mrug and Mistry ultimately purchased a 250 square metre home with a walkout basement and a large backyard in Calgary's northwest neighbourhood of Valley Ridge. Realtors in the western province are also buzzing with anecdotes about what they say is an unusually high number of inquiries from Ontario. Those stories appear to be backed up by Statistics Canada data, which says Alberta led the country in interprovincial migration in the fourth quarter of 2021, for the first time since 2015. On a net basis, the majority of Alberta's new interprovincial migrants in the fourth quarter came from Ontario.
On the higher end of the market, the uptick in activity is even more dramatic. Detached and attached home sales in the $1 million-plus price category in Calgary rose 71 per cent and 258 per cent year-over-year respectively, according to Sotheby's. “None of the jobs I was looking at in Toronto or Vancouver paid enough to justify living in either of those cities,” said Sekulic. “I did eventually want to be a homeowner, and I've bought one now … which would have been impossible there.”
robbheilig Come house shopping Rob💕
I bought outside of Toronto. Best decision. Now have 3 homes rented out plus my own Toronto is not the only city in tbe world. Torontonians i find are trying to something they not. A perspective that is different to each of us. Crime will increase. Replies ignored
Enjoy their weather. Ya, no thanks
good. let's spread out a bit, huh?
fordnation Change the zoning by law for residential investment properties to commercialrealestate. One residence per family & treat all investment residential properties as commercialrealestate & qualify under commercial mortgages CTVNews CBCNews
A smart strategy is to SAVE for a higher down payment now that interest rates are going up - your payments will be lower and you'll pay less interest - your story should highlight benefits & tips instead of negatives Cp24
New Brunswick is having a real estate boom from buyers leaving Ontario for the past two yrs.
Im convinced people with a real estate licenses are like the locusts from the plagues
Must be nice being able to have the ability to relocate. That's not a reality for most working poor.
Who wants to live there?
Some will be mad but I will say the honest problem with housing is multiple homes owned by individuals. University cities like mine have hundreds of homes that are investment properties. Increase the taxes on 3rd and 4th homes.
lmao fuck that
Jobs jobs jobs
Even people with 1 million dollar and up homes are looking elsewhere. Why not cash in and buy a nice lil house in AB or the east coast? Live mortgage free with money to live. This city isn't worth the $$
House prices in Ontario are nuts. Everyone is getting offers that are over the asking price.
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