Not Quite Panic Buying

Chart from the Globe & Mail, Thursday, January 14th, 2021 shows that Toronto lost nearly 50,000 residents to rural areas during the first half of 2020.

Broker of record Treat Hull was quoted in an article on the migration from big cities to rural areas in today’s Globe & Mail.

The Globe article reported that for the first 6 months of 2020 –which included the Covid-19 first wave– Toronto saw a net population loss over 50,000 people who moved to smaller communities and rural areas.

Treat Hull, a real estate broker in Ontario’s Prince Edward County, has seen the pandemic impact up close…“It’s been an insane year,” Mr. Hull said. “I wouldn’t go so far as to call it panic-buying, but let’s just say it’s mainly been buyers from Toronto – and many of them have an acute sense of urgency about wanting to get out of Toronto.”

The big change in demand, he observed, stems from two-adult households with both people suddenly able to work remotely, allowing them to look further afield for housing.

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