The housing market across Canada today is undergoing seismic shifts driven by workers having more job mobility and an increase in demand for housing of almost every type—from apartments to condos to single-family homes.
Understanding residential real estate trends are critical to success for real estate sales professionals across Ontario. They put their experience, detailed knowledge of the communities they serve, and data from GeoWarehouse into action with every family they help through a home purchase.
Helping clients make the right decision means understanding where they’re moving to, where they’re moving from, and what types of properties are being purchased. That’s the drive behind our new Residential Relocation Report. Real estate sales professionals are using these reports as one of their tools to keep them knowledgeable about migration which in turn helps their clients determine their perfect location and property.
But it’s not only real estate sales professionals who can put the report’s data to work. Select professionals can leverage the power of our Residential Relocation Reports to provide better service for their clients, too.
Inside the Residential Relocation Report
GeoWarehouse subscriptions are available for appraisers, surveyors, developers, and other qualified land professionals. The subscription provides access to state-of-the-art mapping and research tools and the GeoWarehouse Store. The store is where you can purchase three versions of the Residential Relocation Reports for an additional fee.
The FSA version of the report provides the most granular level of detail. It shows where people are moving in and out, neighbourhood by neighbourhood, based on Forward Sorting Area (FSA) otherwise known as the first three characters of the postal code. The Municipality report shows the same migration information based on city or town. Finally, the LRO report provides the Residential Relocation Report data based on Land Registry Office (LRO) location.
You can see the data in action in our Q4 2021 Teranet Market Insight Report. The publicly available report focuses on three in-demand markets: Toronto, Waterloo, and the Muskoka area. Using our data expertise, we designed the Market Insight Report to explore what types of properties are being purchased by five specific buyer segments.
- Movers – buyers who have moved from one principal residence in Ontario to another.
- Multi-property owners – people buying a second property in the province.
- First-time home buyers – people purchasing a property who have never owned a property anywhere in the world.
- Life events – property transfer due to life events like marriages, deaths, or divorces.
- Other – This could include buyers outside of Ontario or Canada or those re-entering the property market after an extended absence.
In this 10th edition of the Teranet Market Insight Report, we put together a comprehensive view of the housing market and trends beyond first-time home buyer issues and pandemic-related impacts that affect the residential housing market.
How to use Residential Relocation Report
While real estate sales professionals focus on the mover segment in today’s fast-changing market, each segment provides critical insights that can help inform decisions on everything from choosing a location for a new business to zoning decisions for future developments. Here are three ways land professionals can use the Residential Relocation Report.
Getting citizens from A to B safely
Municipal urban planners across Ontario lay the foundations for long-term growth when designing transportation and other city infrastructure projects. Initiatives such as Vision Zero require a deep understanding of how people move in your city. But it’s not only how your citizens move today—it’s how the citizens of the coming decades will want to move and what transportation systems you’ll need to bring to meet their demands.
The Residential Relocation Report provides data on the where people are moving to and from, types of property being purchased, and other information like age or whether they are a first-time home buyer which that can give a view on what’s happening in your area. An influx of Millennial families could point to future demand for more cycling infrastructure, while trends on aging populations could potentially show a decreased need for parking.
Location, location, location
Property developers can use the Residential Relocation Report to identify and validate future development projects. Whether you’re planning a new shopping development or looking for a location for a new business, the Residential Relocation Report can provide you with deep insights into an area’s migration trends.
If you were deciding between locations for a new educational tutoring franchise, an example of an influx of young families into the area could be a critical deciding factor.
All the ingredients for a world-class city
City planners can put the Residential Relocation Report to use in helping city and regional councils make educated, informed decisions in policymaking and land use management.
Zoning decisions and changes to inclusive or exclusive zoning can impact a city’s growth for decades. Having insights on how a city’s demographics are evolving in an FSA by FSA view can help city planners guide decision-making for everything from school placement to city and social service locations.
Get the report today
Contact our team today to learn more about GeoWarehouse subscriptions and how you can access the Residential Relocation Report. If you have a GeoWarehouse account, visit the store to invest in a report today.
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