Photo: JoAnna Kopp/Flickr
Two of the Toronto’s real estate research firms have joined forces to offer a first-of-its-kind tracking system of the GTA’s high-rise market — from land sales, to proposals, to sale and resale activity.
Urbanation, which researches Toronto’s condo market, has acquired a 50 per cent stake in the land and commercial sales data tracker, the Marsh Report.
“We’re really excited about what this means for the local real estate industry in general,” said Shaun Hildebrand, the senior vice president at Urbanation. “For the first time, there’s going to be one company tracking every kind of real estate transaction in the GTA.”
Urbanation tracks condos that are proposed, in development, or have been built and puts out data including total sales, listings, unsold inventory, rents per square foot and average prices.
Marsh puts out two quarterly reports that lists land sales in the GTA, as well as the sale of commercial and institutional buildings.
“It seemed like a perfect complement to Urbanation,” said Urbanation’s principal and co-founder, Eve Lewis, in a press release.
The merger comes just two months after Altus Group, a commercial real estate consulting agency specializing in data, bought Urbanation’s main competitor, RealNet Canada.
Hildebrand said the first step after the merger will be to bring over Marsh’s land transaction data so Urbanation’s customers can get a deeper history of individual projects.
In the meantime, he said, the two research bodies will continue to put out their individual data, but broader joint reports that look at the market holistically are on the horizon.