Toronto real estate investors deny they’re driving up the market

Ever since I arrived in Toronto, my wife and I purchased three houses and two condos, said Peter Walsh.

However, Peter debunked the idea that their property investments are contributing to the affordability crisis in the city’s red-hot real estate market, such as Vancouver and Toronto.

“I wouldn’t like to think of us as kind of ruining the market for anybody or making it bad for anyone,” says Walsh, who emigrated from the UK and now works full-time as an accountant. “I don’t think I’m driving up the market. I’m just quietly benefiting from it.”

Most people believe that domestic investors are the main reason behind the skyrocketing real estate prices in these zones, making it hard for new home-buyers to have a piece of the cake.

According to statistics revealed by TREB (Toronto Real Estate Board), home process have increased by 21%, compared to the same time last year, currently reaching an average of $762,975.

As a result, experts believe that there’s a connection with the domestic investor market. In a record released by TREB, domestic investors now make up 25 per cent of their client base.

“I wouldn’t like to think of us as kind of ruining the market for anybody or making it bad for anyone,” says Walsh, who emigrated from the UK and now works full-time as an accountant. “I don’t think I’m driving up the market. I’m just quietly benefiting from it.” Walsh said.