![\"\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2018\/07\/JPbombales-1577-compressed-1.jpg\")
<\/a><\/p>\nPhoto: James Bombales<\/em><\/p>\n Toronto has come a long way in the ranks of global tech hubs \u2014 according to a new report, the city was the fastest-growing tech-jobs market in 2017.<\/p>\n There were 28,900 tech jobs created in the city last year, according to CBRE Group Inc\u2019s latest survey. That\u2019s a 14 per cent year-over-year increase and a massive 52 per cent jump over the past five years. <\/p>\n \u201cCompanies looking to house operations are putting serious thought to locating in Canada,\u201d writes CBRE Canada executive managing director Paul Morassutti, in a statement. <\/p>\n\n But what could this news mean for the Toronto housing market? According to Bullpen Research & Consulting president Ben Myers, a boom in jobs often leads to a jump in home prices.<\/p>\n \u201cPopulation and employment are two of the biggest drivers of home prices,\u201d he tells Livabl. \u201cIf the tech sector is causing people to move into the area, because of an increase in jobs, that could push home prices higher.\u201d<\/p>\n Myers also acknowledges that tech workers, with their above-average incomes, will be more able to afford Toronto\u2019s pricey market.<\/p>\n