Posts Tagged ‘markham homes for sale’

More and More Buyers Are Discovering Vaughan Real Estate

Although the housing market has been hurt by a drop in buyer confidence resulting in home sales to decrease worldwide, areas such as Vaughan, Ontario the City Above Toronto,” are noticing a fast recovery, which is resulting in a not often seen’seller’s market.’ The city of Vaughan has reshaped itself over the previous 20 years from an agricultural township to a fast paced urban hub of satellite communities with a rustic feel. In just 10 years, the population of Vaughan expanded 276 percent and is expected to climb to 1.5 million by 2031.

The census results from 2006 reveal that Vaughan is attracting a lot of young home owners, with 81 percent of the city below 55 years old with a median age of 35.9 years, that is significantly lower than the 39 year-old average for Ontario.~ Vaughan is drawing in young residents, and based on the 2006 census the median age is 35.9 years with over 81 percent under the age of 55.} Even though as much as 65% of the houses in Vaughan are single-family detached dwellings, high end multiple-row houses and apartment condominium are increasingly more popular, according to studies by the York Region Planning Department.

Statistics also reveal that the average median salary of Vaughan residents is 31 percent higher than the Canadian average, and because of this the housing prices are generally a bit more than in nearby Toronto. The spin-off of this can also be felt in Markham homes for sale as well which has also experienced an increase in popularity from purchasers and is great news for sellers. Read more…

Why Buyers Are Rushing To Buy Canadian Real Estate

The Canadian real estate market has been exposed to decline over the past few years primarily due to the recession. In 2008, Canadian workers lost 415,000 jobs and in 2009, 91,000 of those positions were replaced.

The drop in the housing market is in part because of increasing unemployment numbers in Canada. A surge of 0.9 percent in job opportunities is predicted in 2010, and in 2011, an increase 0.18 percent is expected.

In 2010, the unemployment percentage is forecast to rise to about 8.4 percent. The housing market may also be affected by population growth.

More square footage is frequently required as families add new members to the family. Young, growing families are frequently good prospects in real estate. The birth rate has been somewhat lower than normal. This translates into less housing desire.

Current studies indicate that there may be some signs of the market recovering in 2010 and 2011. Experts foresee that the real estate sphere could possibly increase to almost 190,000 units in 2010. Read more…