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What is the biggest factor affecting Toronto’s new construction market?

Original article via BuzzBuzzHome.

While most of Toronto’s housing market is off to a cooler start this January, many industry experts are predicting that tight economic fundamentals will keep the new construction market strong. The number one factor driving that strength? According to one industry expert, it’s a booming population.

“We’re poised to see 100,000 people moving into the GTA on an annual basis,” Building Industry and Land Development Association (BILD) president and CEO David Wilkes tells BuzzBuzzNews.

According to Wilkes, huge population growth will drive demand for new construction housing in Toronto to new heights in 2018. Having joined BILD as president and CEO in December, Wilkes says one of his main priorities is to lobby municipal governments to update their official plans to allow for further densification.

 

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