Compare, Compare, Compare…..

The way I try and learn about a given submarket, or municipality, or neighbourhood, or any corner of the GTA, is to compare it to other areas. The way to Location, Location, Location is through Compare, Compare, Compare.

I like to get clients to compare different areas of the GTA on a regular basis so they are always aware of the current differences of various market performance metrics. That way, when they are looking at investing big dollars on a site, they have a very good idea how that particular area compares to others. Knowing those comparisons provides an extra level of knowledge that can impact what you’d be willing to pay for that site. Also, keeping those comparisons up to date over time allows you to react quickly when the right opportunities arise.

Generally, I like to compare new home supply and demand, new home price, new home size, and new home absorption rate (long term and launch effect), all by product type, to understand the differences among various geographic areas. I’m also working with our new RealNet Land Price Index for high rise and low rise sites as a comparative tool for land acquisition decisions.

Come back soon as I’ll post some comparisons, using the above noted market parameters, on the varying performance of various areas.

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About Steven Hurst

VP Analytics, RealNet Canada
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