According to a new analysis, the housing market in Canada had the biggest drop in affordability in 41 years in the second quarter of 2022.
Oakbank Home Price
Oakbank was Canada’s 708th most expensive suburb by listed median house price this month.
The $409,900 price tag on the median Oakbank home means that it is quite highly priced by Canadian standards.
Across Canada the most common number of bedroom property being listed has 3 bedrooms, in Aug this neighbourhood’s most common listing has properties with fewer bedrooms.
According to our stats, Oakbank is the neighbourhood that has the 14th most properties available to real estate investors in Manitoba.
There are a number of important pieces of research you should do before deciding where to buy an investment property – this data for Oakbank will hopefully provide an indicator to help you where to research in-depth
One of the important leading indicators for property investors is whether the amount of stock on the market is increasing or decreasing – as more comes on buyers have more choice so prices can tend to drop. In Oakbank, the amount of stock on the market has decreased which is a positive indicator for house prices. Three months ago there were 67, this month we show 53.
Can we guarantee how well Oakbank 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.
It’s always hard to tell what property prices will do over the coming months, but over the last three months the properties available for purchase in Oakbank have stayed pretty much the same which would tend to indicate that demand is steady.
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