Real Estate

Omicron lockdown is here what are the predictions for spring 2022 RE market?

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  • Jan 4th, 2022 3:19 pm
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Jan 3rd, 2022 2:42 pm
Easy401rider [OP]
Sr. Member
Dec 25, 2019
919 posts
1293 upvotes

Jan 3rd, 2022 2:42 pm

Omicron lockdown is here what are the predictions for spring 2022 RE market?

Well here we go again , after all we are back to lockdown and seems like we will see tsunami effects of this variant already 5 co workers got covid out of 20 in my department ...they are all good with mild symptoms...

Noone is selling due to many reasons (covid, no way to move up, too expensive to move etc) so are we going to see %50 increase again during February and March like last year ? Condo market will boom/collape ? SFH market will collapse/boom? Durham will see %100 increase again surpassing Toronto and Peel region prices ? WFH will make Sudbury new Barrie, London new Cambridge? Cambridge/Barrie/Oshawa detached selling for 2m soon? BOC lowering interest rate instead of raising ?

Please respect each other and no name callings, blaming Trudeau government, realtors, foreign buyers, investors, flippers, landlords, tenants, uncle sam, ETC... just predictions...
29 replies
Jan 3rd, 2022 2:49 pm
Stupido
Deal Addict
Aug 9, 2020
1090 posts
666 upvotes

Jan 3rd, 2022 2:49 pm

Easy401rider wrote: ↑ Well here we go again , after all we are back to lockdown and seems like we will see tsunami effects of this variant already 5 co workers got covid out of 20 in my department ...they are all good with mild symptoms...

Noone is selling due to many reasons (covid, no way to move up, too expensive to move etc) so are we going to see %50 increase again during February and March like last year ? Condo market will boom/collape ? SFH market will collapse/boom? Durham will see %100 increase again surpassing Toronto and Peel region prices ? WFH will make Sudbury new Barrie, London new Cambridge? Cambridge/Barrie/Oshawa detached selling for 2m soon? BOC lowering interest rate instead of raising ?

Please respect each other and no name callings, blaming Trudeau government, realtors, foreign buyers, investors, flippers, landlords, tenants, uncle sam, ETC... just predictions...
How about a view on downtown Toronto condos?
X02 going at $1,400 sq ft (Dufferin and King)
252 Church going at $1600 sq ft (Church and Dundas)
Wow
+3
Jan 3rd, 2022 3:33 pm
Unknownname
Sr. Member
Jan 27, 2018
534 posts
523 upvotes

Jan 3rd, 2022 3:33 pm

I would estimate minimum 20% increase across the board for all types.
+7
Jan 3rd, 2022 3:53 pm
ironman77
Member
Apr 30, 2019
480 posts
532 upvotes

Jan 3rd, 2022 3:53 pm

According to people in this forum, the only ones who will be able to afford a home are those who work two full time jobs and/or know what levels.fyi is.

Seriously though, I think this lock down will be short lived. Wait untill end of February when the majority of 5-11 will be double vaxxed. Once that happens, way more people (parents of school age children) will resist another lockdown.
+3
Jan 3rd, 2022 4:13 pm
noobienoob
Sr. Member
Sep 13, 2007
750 posts
336 upvotes
Toronto

Jan 3rd, 2022 4:13 pm

i get the sense this lockdown will be lifted in 3 weeks....

By that time, enough ppl will have their booster and hospitalization rates will tail off....

the government sense most ppl can't handle anything more than 3 weeks anyways
+1
Jan 3rd, 2022 4:27 pm
barmadrid
Deal Addict
User avatar
Feb 4, 2015
1340 posts
877 upvotes

Jan 3rd, 2022 4:27 pm

When we're getting ready to buy our first home Crying Face
+1
Jan 3rd, 2022 6:18 pm
ozzie16
Deal Addict
Oct 27, 2012
2968 posts
4883 upvotes
Toronto

Jan 3rd, 2022 6:18 pm

To the moooooooooooooooooon!
+9
Jan 3rd, 2022 7:24 pm
licenced
Deal Fanatic
Jul 3, 2011
6517 posts
3796 upvotes
Thornhill

Jan 3rd, 2022 7:24 pm

I have nothing to back this except my intuition, I think come February people in general will say to heck with it and we'll see a significant increase in listings over last year.

All of the regions of Peel, Halton, Niagara, Hamilton, Durham and York will continue to out perform Toronto, but prices by mid March will flatten.
Jan 3rd, 2022 7:26 pm
GalvToronto
Deal Addict
Mar 20, 2017
1370 posts
1165 upvotes

Jan 3rd, 2022 7:26 pm

I think the prices will peak in 2022 for a while, a year or two, similar as they did in 2017.
But the price levels we see now will be looking dirty cheap compared to what we will see after the peak.
+1
Jan 3rd, 2022 7:37 pm
crucial1
Member
Jun 11, 2013
261 posts
252 upvotes
Toronto

Jan 3rd, 2022 7:37 pm

Curious when do you guys think prices will peak for 2022...I'm pretty bullish for Q1 and maybe Q2 ...not so much the later half of the year
+1
Jan 3rd, 2022 8:13 pm
Jumpityjump
Jr. Member
Dec 9, 2021
158 posts
80 upvotes

Jan 3rd, 2022 8:13 pm

It’s been unpredictable. One of our cousins is selling and he’s happy with the market.
Jan 3rd, 2022 8:42 pm
Palidino
Deal Addict
Feb 17, 2012
2054 posts
781 upvotes
ORLEANS

Jan 3rd, 2022 8:42 pm

i plan to sell late january in ottawa. hopefully i get a good offer! come on! i need more money for my new house lol
Jan 3rd, 2022 9:55 pm
jackfrags
Jr. Member
Nov 13, 2020
116 posts
183 upvotes
Toronto

Jan 3rd, 2022 9:55 pm

Inflation will be unprecedented for the next few years. I'd hold on to hard assets if you can. Predicting more groans about high costs for everything, with real estate being a leader....
+3
Jan 4th, 2022 12:26 am
oasis100
Deal Fanatic
Mar 27, 2004
9587 posts
7859 upvotes
Toronto

Jan 4th, 2022 12:26 am

beyond the moon
Full-time Realtor
+1
Jan 4th, 2022 8:28 am
cartfan123
Deal Guru
User avatar
Sep 8, 2007
10296 posts
13142 upvotes
Way Out of GTA

Jan 4th, 2022 8:28 am

With lockdowns basically normalized here as a solution to everything and yet another year of "we will return to the office at some later date" and the can gets kicked down the road. The same industries continuing to get hammered... restaurants, clubs, gyms, sports, entertainment. The continuing trend will be:

- detached/semi
- backyard
- elbow room
- WFH friendly (home office, good internet)
- less need to be in or near the core

Overall hard assets look to continue to do well. So RE regardless of location remains constructive. Unless a realization among the masses happens that they realize everyone is likely to catch COVID at some point and if so getting the milder variants is acceptable.... This trend will continue.
+1
Jan 4th, 2022 8:34 am
YYZtoYOW
Jr. Member
Sep 27, 2020
150 posts
104 upvotes

Jan 4th, 2022 8:34 am

crucial1 wrote: ↑ Curious when do you guys think prices will peak for 2022...I'm pretty bullish for Q1 and maybe Q2 ...not so much the later half of the year
Yes I think this is correct. Wouldn't be surprised if we see even a 50 basis point Bank of Canada increase in April if inflation sticks around and house prices explode again. Both seem inevitable at this point.
By late summer we might be up a full point and fixed mortgages pushing 4%. I think a pause at that point is likely. If I was selling I would do it this spring as the likely medium term peak. On the other hand if I was buying despite no inventory now could still be a good time before everyone else wakes up as spring is going to be bonkers again.
+1
Jan 4th, 2022 9:15 am
sircheersa
Deal Expert
Feb 22, 2011
15346 posts
19652 upvotes
Toronto

Jan 4th, 2022 9:15 am

Everything will go up a lot. Rate hikes off the table. More cash being printed as people fraudulently claim whatever they called CERB/CRB/CW/CRCB now.
+2
Jan 4th, 2022 9:40 am
lechan
Sr. Member
Jul 18, 2020
753 posts
1217 upvotes

Jan 4th, 2022 9:40 am

sircheersa wrote: ↑ Everything will go up a lot. Rate hikes off the table. More cash being printed as people fraudulently claim whatever they called CERB/CRB/CW/CRCB now.
Those who already own hard assets will love it, expect another 15 -20 % gain in both RE & the stock market. As long as we are still in some sort of a lock down mode, the printed money will have no where to go except to things that will appreciate.
+1
Jan 4th, 2022 10:11 am
ChocolatePoo
Member
User avatar
May 9, 2019
443 posts
1003 upvotes
GTA

Jan 4th, 2022 10:11 am

ozzie16 wrote: ↑ To the moooooooooooooooooon!
We passed the moon already.

Toronto RE is about to exit the entire Milky Way galaxy!!!
Some say they're sick of my crap.
+4

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