According to a report, the city’s apartment vacancy rate increased by 6.6% — the highest level since 2016.
Division No. 5 Home Price
Canada’s national median home listing price this month is $290,900, which means that Division No. 5 is in the top 20% for Canada.
In Aug the median listed house price of $437,500 in Division No. 5 was an impressive compared to the rest of Newfoundland and Labrador.
In province, the most common property on the listings this month has 3 bedrooms, in this neighbourhood it’s 5.
Across Newfoundland and Labrador Division No. 5 has the 31th most properties on offer with 197.
It’s never an exact art, but to try to forecast how property is going to appreciate in Division No. 5 for investors, it’s important to look at data like:
Stock on the market can be an important leading indicator of whether market pressure will be on prices to rise or fall – in Division No. 5 there is more stock than three months ago. This would indicate pressure on prices easing.
When it comes to the size of the properties currently available to property investors in this neighbourhood, they tend to have the average number of bedrooms than the most commonly available across the nation.
Can we guarantee how well Division No. 5 is going to do next year? No, but we can look at the data we have and use it as a starting point before doing research.
If you are looking at investment properties in Division No. 5, then there are about the same homes for sale than there were three months ago. This would indicate that house prices will be influencing it towards being a steadily priced.
Signup for our weekly newsletter to get the latest news, updates and amazing offers and delivered directly in your inbox.
Designed to offer readers accurate, cutting-edge information to guide their investment decisions, each issue of Canadian Real Estate is filled with informative articles on a broad range of topics.
© 2021 Canadian Estate Wealth. All Rights Reserved.