TORONTO AND THE EXODUS

May 5, 2021

WHY BARRIE?

Although COVID-19 has contributed to Toronto citizens leaving the hustle and bustle of the City, there is one thing we have all accepted as important, and that is social interaction.

Buyers want elbow room; they are craving the combination of life in nature, and also that city lifestyle. This is when real estate begins to see an increase of property sales in Barrie.

Barrie-based Jeremy Brooks of Engel & Völkers stated, “They [buyers] want a place that has a sense of community, park space and great outdoor amenities that they can access on a regular basis.”

Barrie is known for its four-season great outdoors, and added Brooks, buying activity in the city is coming from people leaving the GTA. That’s also had a profound effect on the price of single-family detached houses in Barrie, a city replete with subdivisions.

Buyers who used to live in condos are now craving homes that are much larger, with a lot more bedroom space which can then be ultimately used to accommodate to today’s times and remote work. This demand is creating the trend of “Zoom rooms”, especially in large-family homes.

These buyers are creating an infamous exodus in the city, and sellers are witnessing a shift in lifestyle choices, and the demand for simplicity and community.

Reference:
Brooks, J. (2021, January 15). Year-end 2020 Canadian luxury real estate market report. Issuu. https://issuu.com/evusa/docs/ev-canadian_luxury_real_estate_market_report-yeare

Picture Credit: Jason Grant on Unsplash