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A Look Back at 2021, 2022 Real Estate Market Update & My Predictions
<< 邁向自由人生2022年 1月 >> 不藏私！ 我对2022年地产市场的预测
Happy belated new year! It’s been a while since my last blog and it has been a very eventful year. I felt like the half of the year was spent pivoting and putting out work-related fires. The second half of the year just went by like a dream.
迟來的新年快乐！ 自从我上次写博客以来已经有一段时间了，今年是非常多事的一年。 我觉得这一年中有一半时间在工作上救火、解決事情。 而下半年就在疫情影响下，像一场梦一样过去了。
On the realtor side of things – First and foremost, thank you to all of my clients for their continued support and the trust you have given me. I’m very grateful to have helped so many investors secure great investment purchases as well as hit all-time market highs on the sale of their properties. Just to highlight a few pre-construction projects that we were able to secure for our investors.
在房地产经纪业务方面 – 首先，感谢我的所有客户的持续支持和给予我信任。我非常感谢能够帮助这么多投资者获得巨大的投资机会，并在出售房产时创下历史新高。尤其是在楼花项目上为我们的投资者成功买下心仪的物件
I’m also very proud of the Supreme6ix team for an amazing year. Our team has now grown to a team of 8 and we’re continually looking to expand in 2022. Congratulations to the team on winning the Toronto team of the year award for all the Century21’s across Canada. We are looking to better these results in 2022!
Market Update 市场信息更新
Some of you have been asking me for recent markets updates so I thought I’d take a minute to summarize 2021.
- The Average home sold prices in Toronto increased 24% year-over-year to $1,157,849 for December 2021
- Detached home prices increased by 29% year-over-year to $1.60M
- Semi-detached home prices increased by 26% year-over-year to $1.18M
- Townhouse prices increased by 30% year-over-year to $1.14M
- Condo apartment prices increased by 18% year-over-year to $712k
- 公寓 价格同比增长18%， 达到71.2万元
Imbalance of supply and demand resulting in record-high prices which is 17.8% higher than the peak in 2020. This data represents only the re-sale market and not pre-construction prices 供需失衡导致房市价格创历史新高，比2020年的峰值高出17.8%。此数据仅代表二手房市场，不代表楼花的价格
In 2020, the trend was for people to move out of Toronto and to the suburbs. 到2020年，人们的趋势是搬出多伦多，住到郊区。
In 2021 there was clearly a resurgence for homes within the city of Toronto. What’s caused this resurgence was the demand for condos as well the re-opening of the city 2021年，多伦多市中心内的房屋大幅复苏。导致这种复苏的原因是对公寓的需求以及城市的重新开放。
My Predictions 我的预测
Given the constant printing of money, cash is devaluating daily. This is sped up by the rising cost of consumer goods (e.g., food, gas, utility, housing etc). In my opinion, holding cash during this COVID era is probably one of the worst things to do.
The government was planning on slowing down inflation with interest rate hikes in the spring. With this new lockdown, I don’t believe the government will increase the rates and hurt the economy. It just so happened that earlier this week the Bank of Canada announced they’re keeping rates where they are right now! Therefore, it is expected that Canadian real estate prices will continue to rise another 10% – 12% in 2022.
The wealth gap between the rich and the poor will continue to widen. It is just my suggestion that if you have extra cash available, investing is the wiser option. Asset classes such as real estate and commodities continue to hold their value.
If you’re interested in learning more about this feel free to reach out to me directly. I’ll be happy to answer any questions you might have
Until next time. 我們下次見 ！
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Raymond Lui, Team Leader/Co-Founder