SOURCE: Bennett Property Shop Realty
OTTAWA--(Marketwire - Jul 23, 2012) - Real estate trends, like trends in all industries, come and go. Whereas before a prime suburban plot of land was essential for successful families, today's population is beginning to "reverse migrate" back to city centers. Canada.com reports that in Toronto, this reverse migration accompanies a boom in condo development and a surge in the demand for office space. Marnie Bennett, founder of Bennett Property Shop Realty, explains why the urban core has become popular once again.
"Employers across Canada are seeing and experiencing this new lifestyle trend -- the balance of work and play. This is influencing employers to move into more expensive work spaces in the downtown areas and the urban core. The new workers, both Generation Y and Millennial, are seeking employers and employment that are situated downtown, as they provide amenities and a lifestyle that is more in keeping with their concept of the perfect work/life balance," asserts Marnie Bennett. "Gone are the days when employees will work in the suburbs in some out of the way commercial park and gone are the employees who commute hours to their places of work and are then trapped in an environment that does not provide restaurants, shopping, bars, etc. Employers are now realizing that in order to attract a great workforce and maintain their edge, they need to be located where everyone wants to be. Workers today, more than ever before, want access to public transit, a great 'play' lifestyle, green surroundings, and socialization."
Toronto is not the only city experiencing this reverse migration -- and housing is not the only aspect of the real estate market that it affects. Residential, retail, and commercial spaces have all shown an increase in demand in urban locations.
"All over Canada, in all the major cities, you will see cranes everywhere," continues Marnie Bennett. "A combination of residential, office, and retail space in high rise buildings is a prevalent and growing trend. Vacancy rates for central commercial markets are dropping. Employers realize that they need to be in the urban core to attract the best workers and balance of work/play. This is the new chapter of urban growth."
Bennett looks forward to the continued evolution of the real estate market and is dedicated to assisting her clients find the properties -- and secure the lifestyles -- that they are looking for.
Marnie Bennett is the founder of Bennett Property Shop Realty in Ottawa, Canada. Also a real estate broker, Marnie Bennett specializes in condo and home development marketing strategies. Furthermore, Marnie Bennett has contributed to the local home construction industry. Through professional insight and invaluable experience, she guides her clients through real estate processes while providing a high level of quality customer service and continually improving her professional capabilities.