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Paul Fitzpatrick, broker of record at Home Group Realty Inc., has noticed a change in the types of buyers making inquiries at his Guelph, Ontario–based offices. A lot more of them are coming from the Toronto area, and many are interested in a very particular type of product: a newly built detached home.
“Two years ago, they would not have considered moving this kind of distance from the GTA,” Fitzpatrick says, referring to the Greater Toronto Area. But now, with interest rates near record lows and work-from-home arrangements more available than ever before, something has shifted. Fitzpatrick says his volume of inquiries from buyers based in the region has doubled during the pandemic.