7 WILD Predictions for the Toronto Real Estate Market in 2022!

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7 WILD Predictions for the Toronto Real Estate Market in 2022!
It's that time of the year when I give you my annual 7 wild predictions for the Toronto Real Estate Market. This will be the 5th year that I'm making these new year predictions and 2022 will be the same as I use my expertise to give you the heads up scoop on what to watch for and what I think is coming down the pipeline in 2022.
Further, I'll also be giving you my price predictions for the 2022 Toronto Real Estate Market. In addition to the pricing, I'll be highlighting a few important discussion points that I believe 2022 will bring, such as interest rates, policy changes, and much more. We're ending the year with a fairly high average price point for real estate, after seeing record price gains of over 20% throughout all of the Greater Toronto Area. Are we going to see record price gains in 2022 similar to the crazy gains we saw in 2021? Or are we going to see real estate prices crash from such rapid price acceleration? Perhaps we will see prices deaccelerate?
In this episode of PPTV, I'll be going through a deep dive into various 2022 scenarios to provide my analysis of what I'm predicting for the Toronto Real Estate Market and most importantly, how to prepare for the 2022 real estate year in Toronto. Be sure to tune in as these end-of-the-year episodes are always fully-loaded with lots of goodies!
#TorontoRealEstate #RealEstatePrices #TorontoRealEstateMarket #RealEstate2022
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Пікірлер: 74

@mikedunn4283 2 жыл бұрын

Wishing you a successful year!

@PrimePropertiesTO 2 жыл бұрын

Thanks you as well Mike!

@chandracharles9972 2 жыл бұрын

You talking too fast Speak slowly hard to understand Sir

@sheerazkhan3695 2 жыл бұрын

Spot on !! Thanks. Could you please do a review of Calgary market if possible.

@PrimePropertiesTO 2 жыл бұрын

Not in my realm of expertise. Can't comment on it.

@lenhh 2 жыл бұрын

Happy New Year Zhen!

@PrimePropertiesTO 2 жыл бұрын

Thanks! You too.

@Unknown-te6dz 2 жыл бұрын

This is a shame on Canada. I have seen luxury 4 bedroom houses with swimming pool in Florida for less than 500 thousands dollars. Here in Toronto, a cold city is selling a little box in a building for 900k. 3 bedroom house in Brampton, not even Toronto is listed for 1.4 million dollars. This is a shame!!

@baljeetsodhi5255 2 жыл бұрын

3 bedroom town house is 1.3 now. It’s crazy why the price have gone so high and who is affording it.

@Unknown-te6dz 2 жыл бұрын

@@baljeetsodhi5255 We still expect it to keep going up in 2022. Honestly, I don’t even know how young ppl like me will be able to afford them. Even if I had 1.3 million dollars, I don’t see myself throwing it all for a townhouse, it will hurt me.

@Absolutely-nothing80 2 жыл бұрын

I strongly feel that Canada is no more the best place to migrate. House is the most basic need that everyone wishes for. No one will want to stay in a one bedroom condo for all their life.With the prices increasing over the top it is getting extremely challenging for new and young immigrants to afford even a condo which is in the verge of touching 1MN. On the other hand rentals are increasing with 50% of your income goes on paying rent. I strongly feel that immigrants after receiving their citizenship will start moving to USA where salaries are higher, houses are cheaper and affordable. It’s really a sad state of affairs with so much anxiety, insecurities and instability.

@Unknown-te6dz 2 жыл бұрын

@@Absolutely-nothing80 I agree.

@Anonymity4LDAF 2 жыл бұрын

Yeah….eventually people just give up. Young people now continue to live with their parents until they are 30+. Keep in mind student debt is up too….just a basic job requires a 30k degree. The only way prices keep going up is on the backs of investors buying more homes using gains from existing homes to fund down payments. New home buyers are fully priced out at this point. The path of hard work leading to the dream of respectful home ownership is long long gone in Canada……..

@simonssportscards2901 2 жыл бұрын

Pretty safe predictions. Question with two interest rates likely in the second and third quarter should folks with variable rates be panicking or should we simply be riding the wave?? 905 has gone nuts our freehold town has increased by 35% in the last year who has this money to spend of a 3bed 3 bath freehold town house just craziness

@PrimePropertiesTO 2 жыл бұрын

Most mortgages on variable, the monthly payment doesn't change. Thats a myth. There are lots of bags of money coming in from immigrants properly.

@phuongle-we1we 2 жыл бұрын

U think the price keep go up like this most decided by “who “ ?? .. the realtor will earn more commissions eh and same time people are so stupid they keep pay a lot more $100,$200 thousand for the asking price..so stupid..Small old house million million. Shame Canada . Right

@AJvNiekerk 2 жыл бұрын

I think Zhen is definitely crazy... But just the right amount IMO 👀👀👀

@PrimePropertiesTO 2 жыл бұрын

LMAO! 👀😜

@alana.dyer.author 2 жыл бұрын

Could you give advice to those wanting to buy a forclosure bank sale house?

@PrimePropertiesTO 2 жыл бұрын

We mostly get POwer of Sales. You'll have to wait until there are defaults on mortgages. You won't see signs of this until 6 months or so down the line when PoS starts.

@greg5423 2 жыл бұрын

Interesting comment concerning cancellations of Condo projects. So this means a concentration of investors focused on the rock solid developer/builders? An analysis of risk on a project by project basis is all the more necessary it seems

@PrimePropertiesTO 2 жыл бұрын

Absoloutely. Too many people focus on price per foot, but it becomes irrelevant if the project gets cancelled. A lot of investors will still gravitate towards a cheaper price per foot and take the risk but each person is different on he risk tolerance scale.

@zoomgali7157 2 жыл бұрын

Great predictions! Do you think 1+1 condos will be in high demand as well? especially if 2 beds become out of reach- they are quite out of reach right now and it seems 1+1s are transacted more

@PrimePropertiesTO 2 жыл бұрын

It really depends what the den is. If you can fit a double and a desk, probably can classify as a 2br since it serves the same purpose. If its a "media" or "flex", probably not.

@zoomgali7157 2 жыл бұрын

I was referring to probably like an 7x9 ft which is enclosed with doors, guess that would be classified as a 2br based on what you’re saying right?

@PrimePropertiesTO 2 жыл бұрын

@@zoomgali7157 yea cutting it small but should be good. Obviously more people would prefer the 2br as the 2nd be will have a window

@nikhilmehta83 2 жыл бұрын

From where the money will flow...do you think affordability of houses is a concern....that could slow the market

@PrimePropertiesTO 2 жыл бұрын

Affordability isn't actually what will slow the market nor is it a concern for the government given they do the opposite to what they say for trying to help with affordability. Price increases in my opinion stem from credit growth (how easy it is to get a mortgage) and real interest rates being negative. Mix this with immigration and no supply and its a recipe for diaster. A lot of people think this is isolated to Toronto or Canada, it's actually global. It's just Canada's growth is more significant y/y compared to other countries.

@PrimePropertiesTO 2 жыл бұрын

@Frank I. Yea there's a lot of big corps and a few pension funds looking at single family homes right now. It's messed up.

@franfio9655 2 жыл бұрын

Lol no more than 3 interest rate hikes. Yikes that was off🥶 We are at 4 and more to go!

@PrimePropertiesTO 2 жыл бұрын

Yuuuup. Technically if you measure each .25, were at 7 already. HIgher anything everybodys

@choidd 2 жыл бұрын

Thank you for sharing! Love this

@PrimePropertiesTO 2 жыл бұрын

You're welcome !

@cheenemorata1959 2 жыл бұрын

Mind blowing prices of houses surging n toronto but it doesnt really worthy as it looks compared to other state 2br to 3br n state just 150k

@PrimePropertiesTO 2 жыл бұрын

It's been higher now

@Slickpete83 2 жыл бұрын

*2021 Laneway suites ✔,2022 Garden suites ✔, 2023 Tree House suites✔* 😅🤣😂

@PrimePropertiesTO 2 жыл бұрын

Hahhaha, I better plan that big oak tree now!

@RelaxingMusicParadise 2 жыл бұрын

2024 RV Suites!!

@PrimePropertiesTO 2 жыл бұрын

@@RelaxingMusicParadise Time to buy some RV Land!! Opportunities await!

@buckrogers7115 2 жыл бұрын

Chinese coming here buying real estate destroy this countries housing market for the foreseeable future

@rlvilla5128 2 жыл бұрын

Why are you blaming the Chinese? This is a capitalist country so ANYONE can sell or buy real estate if they have the $$.

@sabanathanasaippillai1053 2 жыл бұрын

ஐயா விளங்கவே இல்லை! யாராவது இலகுவாக விளக்கம் தரவேண்டும்.

@nospm1244 2 жыл бұрын

Guys keep buying these properties 100,200,400k above asking and don't worry. It will always go up because historically it has always done it. It doesn't matter that we are very close to the point where young families will need to save more than 20 years for a downpayment. It doesn't matter that the interest rates may go up, that property taxes may go up, that maintenance costs may go up, that the government is banning foreign ownership, that more supply may show on the market through the upcoming changes, that people may simply loose their jobs and may not be able to pay their mortgages without sweet CERB etc. Don't worry about any of those, the market will keep pumping forever, because that's what has been happening in the past. These old condos that you are buying for 700k will be worth $2 mil in five years and then you can simply retire. Congratulations to all of those people who are buying one bedroom mini condos in Toronto for 700k+. May God bless you all.

@ojbkojbk7949 2 жыл бұрын

clearly you didn't watch this guy's past videos.... one major point I agreed with him is that the housing prices have nothing to do with affordability.

@PrimePropertiesTO 2 жыл бұрын

@@ojbkojbk7949 Thanks for watching my other video 😁

@nospm1244 2 жыл бұрын

@@ojbkojbk7949 It doesn't if it's a preferred choice of investors. Once the government introduces measures to make it less attractive to investors (extra taxes, bans etc), affordability will be major factor.

@sean4060 2 жыл бұрын

@@nospm1244 Buddy , real estate has always and will always be a popular asset class. Watch some grant cardone videos.

@ojbkojbk7949 2 жыл бұрын

@@nospm1244 you are absolutely right, but in this country, whoever makes a slightest sign that would seriously impact these "investors" would not be elected in the first place.

@gurpreetbhela1421 2 жыл бұрын

Great video. Newbie to your channel. Looking forward to more content like this. A lot of videos on KZfaq are from a buyers perspective. How about someone that is looking to sell (purchased a procon closing March 2023) Would the first quarter or 2022 be the best time to sell? As interest rate hikes and policy changes may cool demand? Or would you recommend waiting until 2023? What are your thoughts?

@PrimePropertiesTO 2 жыл бұрын

Best to look into my channel. There is a very good video about assignment you should watch first. Lots of myths debunked.

@marklaronde6614 2 жыл бұрын

Typical real estate agent totally contradicted yourself from your last video and now creating a panic to "buy now"....

@redeye1773 2 жыл бұрын

pop and dont forget ro pay foreign investment taxs before you run home

@davidratnam1142 2 жыл бұрын

Sure house prices will reduce yes see in America house prices are very cheap same thing will happen here too

@PrimePropertiesTO 2 жыл бұрын

We shall see.

@rlvilla5128 2 жыл бұрын

David Ratnam … keep dreaming

@Jayl__ Жыл бұрын

Interests are higher than that not sub 3%

@Letsgowarriors2023 2 жыл бұрын

Good information. Slow down a bit.

@PrimePropertiesTO 2 жыл бұрын

Thanks, will do!

@tszwong1 2 жыл бұрын

Which projects are you smelling 🤔🤣

@PrimePropertiesTO 2 жыл бұрын

I'm watching a couple right now👃👀

@tszwong1 2 жыл бұрын

@@PrimePropertiesTO gotta be more specific than that lol

@PrimePropertiesTO 2 жыл бұрын

@@tszwong1 I'm going to get into 💩 if I openly say of lol. If it falls you'll hear it. Mid size builder.

@chandracharles9972 2 жыл бұрын

Don't mesmerize people.still the House price is up .stop talk about Condo.we know you are a condo promoter.

@Welcome-he7hu 2 жыл бұрын

oops wrong predition

@PrimePropertiesTO 2 жыл бұрын

Hahahah, the rate one, 100%

@sean4060 2 жыл бұрын

Either three things have to happen 1) rent prices will hike by 15-25% in the next 1-2 years to match hike in price houses 2) home prices will decline 3) home prices flatline for a while and rent slowly creeps up Scenario one is least likely to happen.

@PrimePropertiesTO 2 жыл бұрын

Rents aren't overly correlated go pricing. It's a myth. Prices could flat line if ofsi comes up with new investor rules. That's highest likelihood.

@Anonymity4LDAF 2 жыл бұрын

Man….if you’re young I hope you have rich parents! There may be a point where people just give up on working if they can’t even afford to rent a garbage condo.

@PrimePropertiesTO 2 жыл бұрын

Wage inflation is coming.

@Anonymity4LDAF 2 жыл бұрын

@@PrimePropertiesTO HA! Tell my employer that!

@PrimePropertiesTO 2 жыл бұрын

@@Anonymity4LDAF Find a new company. Some people need pressure.

@Anonymity4LDAF 2 жыл бұрын

@@PrimePropertiesTO I guess it is that simple. Low wage earners should hear this message. It’s your fault….pick yourselves up and get a better job! It’s that simple!