According to a report, the city’s apartment vacancy rate increased by 6.6% — the highest level since 2016.
Margate Home Price
When looking across the province, Margate is the 7th most expensive in Prince Edward Island.
When our research team crunched the numbers we calculated that Margate has a median home price of $419,000.
When it comes to the size of the properties currently available to property investors in this neighbourhood, they tend to have fewer bedrooms than the most commonly available across the nation.
If you’re looking for a large choice of properties on sale when you’re adding to your real estate investment portfolio, then Margate has a pretty average amount compared to the rest of the province
There are a number of important pieces of research you should do before deciding where to buy an investment property – this data for Margate will hopefully provide an indicator to help you where to research in-depth
Because the amount of real estate listed for sale has decreased it looks like housing market forces in neighbourhood are likely to put upwards pressure on house prices.
When we look at the data we have, it can help with trying to establish whether or not Margate is a good investment target.
Stock on the market can be an important leading indicator of whether market pressure will be on prices to rise or fall – in Margate there is about the same amount of stock than three months ago. This would indicate housing stock pressure remaining the same.
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.