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2180 Steeles Avenue West,
Suite 204, Concord,
ON, L4K 2Z5

Phone:     905-761-7001
Toll Free: 1855-761-7001
Fax:          905-761-7005

Email: mortgageadvisor@rogers.com





4 June 2019

Toronto’s population growth is outpacing all other cities in Canada and the U.S.

It seems that a strong demand for Toronto real estate isn’t going down, as the city turns out to be the fastest growing one not only in Canada, but also in the U.S.

Specialists tend to discuss the issue of population growth as one of the main factors supporting housing demand, and the recent report from Ryerson’s Centre focuses on Toronto concerning this topic.

During a 12-mosnth period, finished last July, the city’s population rose by as many as 77,435 residents.

Meanwhile, the second-fastest-growing city, Phoenix, was up by 25,288 people.

As a result, Toronto’s growth outpaced the combined population gains of America’s three most sharply growing cities. Third-ranked San Antonio saw an increase by 20,824 people, while Fort Worth followed with 19,552.

In case of broader metro area’s, Toronto took the second place with 125,298 new residents following the Fort Worth area’s 131,767.

“The sources of growth for Toronto and Dallas-Fort Worth-Arlington were quite vivid”, - the report noted.

“In case of Dallas-Fort Worth-Arlington, births were the main factor supporting the growth, followed by net domestic and international migrations.”

At the same time, Toronto international migration was the main driver for the population growth.

“Net migration into Toronto from other regions of Canada was quite small compared to Dallas-Fort Worth-Arlington,” – the center added.

Migration into Canada’s largest cities provided a strong support for the residential construction investment, as homebuilders keep expanding, trying to provide for the new residents.

 

 

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