The Next Generation of Luxury Real Estate Buyers
Until recently, luxury real estate buyers have found inspiration in properties with a sense of grandeur. Whether via a stately home in a major city or an idyllic cottage country retreat or a tropical paradise in a far flung corner of the globe, these buyers have opted for spaciousness and homes that mirror their success.
The next generation of luxury real estate buyers is redefining the priorities of home ownership. Now in their twenties and thirties, millennials comprise the largest living demographic in North America. With the help of an impending wealth transfer from their baby boomer parents, millennials make up half of the 32% of Canadians who are likely to purchase a home in the next two years. The share of home sales to first-time buyers recently hit a 17 year high.
The most affluent millennial home buyers entering the luxury property real estate market in 2018 are not looking for a 10,000 square foot gated manor. It appears that for today’s purchasers, experiences are more important than objects and that penchant carries through in everything from the luxury properties they prefer to their expectation about their relationship with their realtor.
Emerging real estate buyers think of a luxury property as a journey rather than as a destination. In its 2017 study of the emerging luxury market, Alex Irish & Associates discovered that while spending on personal goods has decreased, spending on ‘experiences’ such as travel, evening’s out, spa breaks, etc., is on the rise. The perfect home is less about the things in it and more about how it will fit into the buyer’s daily life. Listings that show how a property supports a lifestyle are becoming more successful than those that simply list a multitude of amenities.
A home with a backyard isn’t just more land – it is a place for picnics and outdoor entertaining. An updated bathroom may be just a feature but a spa-like oasis for a relaxing bath at the end of a long work day is infinitely more appealing.
As always, location is critical. Whereas past generations have moved away from urban centres, millennials are making a return to city life. A smaller home located in an interesting up-and-coming neighbourhood is more appealing to today’s buyers than a larger luxury property in the suburbs.
A property with a story to tell can be as appealing to buyers as a brand-new build. Was the loft a brewery in the 1920’s? Was the house built by someone prominent? A home becomes part of the buyer’s personal narrative, so heritage status, interesting histories, and thoughtful architectural details are all selling points. An updated kitchen, original hardwood floors and plenty of natural light all show well in photos on social media.
The cost of housing in Canada has increased much more rapidly than the average salary which is why millennials are looking for a home that can adapt and meet their needs over time. The next generation of luxury real estate buyers are looking for the next chapter in their life story. Where their predecessors were wooed by new windows, finished lower levels, extra bedrooms – today’s luxury property purchasers are more interested in updated chef’s kitchens, exposed brick detailing, location and walkability.
Whether You Are Considering Selling Or Leasing A Home Or Condo, Alex Irish & Associates Offer An Unparalleled Level of Service, Discretion And Marketing Regardless Of Price Point Or Locale.
Related Posts
FALL MARKET KICKOFF: September 2025 Real Estate Market Update
As summer winds down, the Greater Toronto Area (GTA) real estate market is shifting once again—this time with an important boost from the Bank of Canada’s recent interest rate cut. On September 17, 2025, the Bank lowered its policy interest rate to 2.5%, marking a significant move that is expected to reinvigorate buying activity across the region.
Market Snapshot: August 2025 (TRREB) 
According to the Toronto Regional Real Estate Board (TRREB), August brought encouraging signs of stability:
- Sales: 6,232 transactions across the GTA, a 4.6% increase from August 2024.
- New Listings: 13,119, down slightly year-over-year, helping balance supply.
- Average Selling Price: $982,880, nearly flat compared to last year (+0.4%).
- Trend: Balanced conditions are giving both buyers and sellers room to maneuver, with the recent rate cut expected to stimulate fall demand.
City & Regional Highlights
Toronto 
Toronto continues to see steady demand for condos and townhomes, appealing to buyers looking for affordability in the core. Detached homes are moving more cautiously, but price stability suggests confidence returning to the market.
Mississauga 
Mississauga remains a buyer-friendly market, especially in the detached and semi-detached segments. With borrowing costs easing, families upsizing or relocating may find strong value in the fall.
Oakville 
Luxury demand in Oakville is regaining traction. The combination of limited inventory and lower financing costs positions this market for an active fall season, especially for executive homes and lakefront properties.
Burlington 
Burlington continues to attract buyers migrating west from Toronto. The city’s blend of affordability, lifestyle, and community feel has kept prices steady and competitive.
Muskoka 
Cottage country remains strong, with buyers eyeing investment properties and second homes. While activity softened slightly through the summer, the rate drop could encourage more buyers to act before year-end.
What This Means for Buyers & Sellers
With interest rates now at their lowest level in two years, affordability is improving across the GTA and Muskoka. Buyers who were waiting on the sidelines are expected to re-enter the market this fall, while sellers may benefit from increased competition for well-priced homes.
At Regan Irish & Associates, we specialize in helping clients navigate market shifts with confidence. Whether you’re buying a luxury home, selling a family property, or investing in Muskoka, our market insight and negotiation expertise ensure you get the best results.
1320 Cornwall Rd Unit 103, Oakville, ON L6J 7W5
905.842.7677
Visit reganirish.com——
August 2025 GTA Real Estate Market Update | Regan Irish
The August 2025 GTA Real Estate Market Update reflects renewed momentum and affordability in Toronto, Oakville, Mississauga, Burlington, and Muskoka. Thanks to steady interest rates and appealing home prices, July proved surprisingly dynamic. Let’s dig into the numbers and what they mean for you.
Interest Rates Remain Stable — Affordability Fueling Activity
In July 2025, the Bank of Canada maintained its key rate at 2.75%, its third consecutive pause. With lower borrowing costs now more accessible, affordability is encouraging a wave of renewed buyer activity.
GTA Market Overview: Sales Surge, Prices Slightly Dip
- Home Sales: 6,100+ transactions region-wide, marking a 10.9% increase YoY and the strongest July since 2021.
- Month-over-Month: Seasonally adjusted sales rose 13% from June to approximately 5,744 units, the biggest monthly gain in nine months.
- New Listings: Up 5.7% YoY, totaling 17,613 new offers.
- Price Trends:
- The MLS® Home Price Index (HPI) Composite Benchmark fell 5.4% YoY.
- The average GTA selling price dropped 5.5% YoY to around $1,051,719.
- Word on the street indicates the HPI drifted slightly lower—about $979,000, down 0.2% from June.
What It Adds Up To: Buyers are back in force—sales are outpacing new listings while prices softened, creating renewed market opportunities.
City Highlights
Toronto
A more balanced landscape—but some segments remain soft. Condos and detached homes see inventory rising; semis are steadier.
Oakville, Mississauga, Burlington & Muskoka
While TRREB doesn’t break down by city in these reports, regional trends suggest:
- Mississauga & Burlington: Strong rise in listings and dipping average prices give buyers leverage.
- Oakville: Stability in demand for luxury keeps discounts modest.
- Muskoka: Continued strong interest in sub-$2M waterfront properties should benefit from broader GTA momentum.
What This Means for You
- For Buyers:
Renewed affordability, rising inventory, and favorable interest rates make August a prime time to move. - For Sellers:
A more balanced market—strategic pricing and quick response will be key to success. - For Investors & Cottage Buyers:
Strong July sales in the GTA point to increasing investor interest; Muskoka remains a high-value lifestyle and investment destination.
Work With the GTA Real Estate Experts
Whether you’re planning to buy a Muskoka cottage, invest in a luxurious Oakville property, or explore options across Toronto, Mississauga, or Burlington, now is the time to act.
Regan Irish & Associates specializes in luxury, resale, and investment properties across the GTA and Muskoka. Our market insight and negotiation skills help you get the best results—whether buying, selling, or investing.
1320 Cornwall Rd Unit 103, Oakville, ON L6J 7W5
905.842.7677
Visit reganirish.com
Let’s make today’s market your opportunity—contact us today!
