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Blog Series Part 2: Canadian Real Estate Market Focus: Toronto vs. Vancouver – Where to Place Your Marketing Dollars

The finance industry is competitive, especially where mortgage financing is concerned. Financial institutions spend big bucks to maintain and grow their share of the market. Canadian ‘financial services’ companies spend upwards of 100 million dollars annually on digital marketing alone. The stakes are high with regard to where to place valuable marketing dollars – especially where smaller lenders are concerned (not just the big banks).

Now, when we say ‘where’ we are not speaking about which marketing platforms you should be focusing on as much as which Canadian real estate markets to market in. Where you market is key as it relates to not just need but also risk. Perhaps an area has shifted to one that has a lot of new development or alternately perhaps a particular area is seeing a higher volume of borrower defaults (power of sales and foreclosures) or, in the example of Vancouver, perhaps the area is headed for a correction that could significantly devalue your security.

What’s ifs are huge in real estate as economists, real estate and financial experts alike are constantly speculating on what’s next to come. Look at Toronto: while Toronto as a whole continues to perform, showing staggering increases in property values, some neighbourhoods perform better than others. It makes good sense to shift more marketing dollars towards those better performing areas. Just because Vancouver housing markets may be headed for a cool down, it doesn’t mean that there aren’t key areas that are still good to focus on from a marketing perspective.

The best way to stay in the know is to have access to the data that helps you identify various trends in different Canadian real estate markets like Toronto and Vancouver. There is technology available that provides accurate data regarding the market value of properties, identifies trends, and can assess what is owed against properties, as well as power of sale and foreclosure volumes. This enables you to quickly adapt to market fluctuations and access objective property, ownership and mortgage intelligence to decide where it makes sense to heavy-up on marketing and alternately where you may want to scale back.

This really levels the playing field where smaller non-bank lenders are concerned because you can position yourself to complete without having to make a massive investment on the research side.

Toronto and Vancouver continue to represent a massive opportunity to lenders but with the stakes now higher than ever it is critical that you make well-informed decisions based on the data.

For more information on accessing data to support your marketing efforts in the Toronto and Vancouver areas please visit Purview at https://purview.ca.

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