Canadian housing starts hit 273,664 in March, up from 252,636 a month earlier, but the enhanced activity still hasn’t been able to keep pace with voracious demand.
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“On the periphery of Vancouver and Toronto, there are pockets of opportunity. When you look at commercial real estate broadly, retail is a victim of COVID and that’s still playing out.”
According to this chief business development officer in Burlington, off-market investments have less competition and allow for more time to inspect the property.
"[...]There’s a lot of push for the city and other government levels to move towards laneway housing to deal with the supply issue and I think that’s a great opportunity.”
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In March, new listings set a record by reaching 1 million across Canada, a 7.5% increase from the month prior. Bidding wars were commonplace and inventories fell to their lowest in decades.
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