Toronto Loft Conversions

Toronto Loft Conversions

I know classic brick and beam lofts! From warehouses to factories to churches, Laurin will help you find your perfect new loft.

Modern Toronto Lofts

Modern Toronto Lofts

Not just converted lofts, I can help you find the latest cool and modern space. There are tons of new urban spaces across the city.

Unique Toronto Homes

Unique Toronto Homes

More than just lofts, I can also help you find that perfect house. From the latest architectural marvel to a piece of our Victorian past, the best and most creative spaces abound.

Condos in Toronto

Condos in Toronto

I started off selling mainly condos, helping first time buyers get a foothold in the Toronto real estate market. Now working with investors and helping empty nesters find that perfect luxury suite.

Toronto Real Estate

Toronto Real Estate

For all of your Toronto real estate needs, contact Laurin. I am dedicated to helping you find that perfect and unique new home to call your own.

 

Gateway to the World

Diversity of housing reflects diversity of Toronto’s population

Toronto Real Estate Board President’s Column as it appears each Friday in the Toronto Sun’s Resale Homes and Condos section.

It’s easy to see why the Greater Toronto real estate market has returned to its robust state so quickly by taking a look at Canada’s 2006 Census; a detailed statistical report issued every five years.

Certainly low mortgage rates have helped carrying costs remain manageable, but affordability is irrelevant without demand. That’s where the census information comes in. Canada’s immigration statistics are staggering and of course, newcomers to our country need a place to live.

As the report explains, nearly one in five people in Canada are now foreign-born. Canada ranks second only to Australia, where 22% of the population is foreign-born.

Canada’s proportion of foreign-born citizens has been growing since 1951 and according to the most recent census it has reached its highest level in 75 years.

The GTA statistics are even more compelling. In Toronto, nearly 46% of the population is foreign-born. That’s the highest percentage in North America and even higher than any of Australia’s major cities.

Toronto draws immigrants from all parts of the world but the majority of newcomers currently hail from India, China, Pakistan, the Philippines and Sri Lanka.

Our city serves as Canada’s gateway to the world. Newcomers are attracted to Toronto because it caters to so many different walks of life. The diversity of housing we have in the GTA works well with diversity of people we see from different countries.

Statistics Canada’s Longitudinal Survey of Immigrants to Canada notes a third reason newcomers are drawn to our country: they come to join family and friends. With a strong support system in place, many immigrants are buying homes more quickly than before.

The 2006 census indicates that 72% of immigrants live in dwellings owned by household members, up from 68%t in 2001, with the biggest increase being among those living in Canada for less than 10 years.

That’s good news not only for Toronto homeowners, but those in outlying areas too. Although the City of Toronto still attracts the majority of newcomers at nearly 60%, the number of immigrants in the 905 Region is on the rise. In Markham nearly 57% of the population is foreign-born, in Mississauga nearly 52% of residents were born outside of Canada and in Brampton that figure is 48%. In Vaughan the number of foreign-born residents is comparable, at nearly 45%, with Ajax and Aurora not far behind at 30% and 22% respectively.

This means that if you’re a homeowner virtually anywhere in the GTA, you can thank immigration for bringing thousands of new potential buyers to you each year. Though the figure has fluctuated between 70,000 and 100,000 throughout the past decade, in 2007, the year for which most recent data is available, we welcomed 93,000 newcomers to our city.

A recent Scotiabank report notes that due to Canada’s aging population and low fertility rates, a decade from now, 75% of the country’s population growth could come from immigration as compared to the current rate of approximately 60%.

This equates to a steady demand for housing in our city as newcomers are drawn to Toronto’s exceptional mix of cultural, employment and housing diversity.

Tom Lebour is President of the Toronto Real Estate Board, a professional association that represents 28,000 Realtors in the Greater Toronto Area.

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Contact Laurin Jeffrey for more information¬† –¬† 416-388-1960

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