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Municipalities look to lure home buyers away from the GTA

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More space for less money.

These are the things on the mind of potential homeowners as they ponder their next move. And with many working remotely from home due to the COVID-19 pandemic, one’s office can be anywhere.

A recent survey compiled by Royal LePage noted 46% of Torontonians between the ages of 25 and 35 are thinking about moving from their current whereabouts to somewhere less dense because of the pandemic. And with the average home price in the Big Smoke peaking at more than $1 million, living outside the GTA — or the province — sounds mighty appealing.

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Many municipalities have launched incentive-based marketing campaigns in an attempt to lure homeowners away from metropolises.

For example, New Brunswick recently launched “Live for the moment NB”, a partnership between the economic development committees of Saint John, Fredericton, and Moncton with the aim of encouraging Canadians to move to the east-coast province.

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The campaign boasts about New Brunswick’s thriving food, sports, and music scenes, as well as the increased quality of life and access to mother nature.

Brittany Donnelly, of Exit Realty Specialists in Saint John, told the TorontoSun there are multiple factors driving people away from big-city life.

“Cost of homes is a huge factor. What you can get here for a mere fraction of what you can purchase in a big city is incredible,” said Donnelly. “I think there is also an appeal to a calmer, small-town feel, less hustle and bustle.

“With a large amount of people now working from home offices, buyers are taking advantage of choosing their location.”

Donnelly said the average home price in New Brunswick as of February 2021 was $219,675, which is considerably cheaper than homes in the GTA.

It’s not just other provinces that are trying to lure residents away from Toronto. It’s also happening in Ontario itself.

The London Economic Development Corp. is highlighting the merits of low-density living in a  campaign, Don’t Tell Toronto, which attempts to lure people to the city located about 200 kilometres west of Toronto, according to blogTO.

Owen Sound is taking a lighter approach to appeal to residents in the 6ix, promoting a more relaxed lifestyle with the offer of free pyjamas they can wear in public as part of its Work From Home Capital of Canada campaign.

echau@postmedia.com

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