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Canadian newcomers are a primary driver of the real estate market: Royal LePage


Norm Fisher, Broker/Owner of Royal LePage Vidorra and Kyle Benning of GlobalNews discuss the impact of "newcomers to Canada" on the local and national real estate markets.





A recently released report from Royal LePage shows that "newcomers to Canada" are behind one in five homes sold across the nation. That number goes to two in five in the Prairie region.


The survey found that 86% of newcomers (anyone who has moved to Canada in the past ten years) see real estate as a good investment and 75% of respondents arrived in Canada with savings to help them purchase a home.


Most typically, these folks settle into a rental home or stay with family initially. On average, those interviewed for this report purchased within three years of arriving in Canada.


At the current rates of immigration, it's expected that newcomers will purchase 680,000 Canadian homes over the next five years, 71,000 within the prairie region.


Read the full report here.

Read also: GlobalNews - 41% of homes bought on the Prairies purchased by new Canadians


I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-241-6676 or email me at norm at teamfisher.com


Norm Fisher

Royal LePage Vidorra

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Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.
 

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