Hottest Real Estate Market in Canada - Why Buy Winnipeg
February 15, 2021 | Posted by: Ron Chan
If you’ve been following real estate news updates throughout 2020 and into 2021 (thus far) then you know one undeniable truth - Winnipeg has the hottest real estate market in Canada. Below is everything you need to know.
Most Resilient Market in Canada
Despite (and in key instances, because of) the health and economic crisis of the past year, homes sales have shattered year-over-year records. While home values and sales numbers have plateaued or collapsed in other cities throughout Canada, Winnipeg was the one to exceed even the loftiest expectations. This sort of resilience is exactly what buyers and investors want to see.
A Buyers and Sellers Market at the Same Time
When market-watchers see a run on sales, they assume that home values are low. A “buyers market” is great when entering the market, it’s not something you want to persist once you have taken title of a property. But in Winnipeg, record breaking sales have not coincided with drops in home values. Quite the contrary in fact. Take 2020 for instance. Home values rose significantly along with the jump in sales, with the year-end report showing that the average price of a Winnipeg house rose by more than 7 percent. The market is hot for those on both sides of the coin.
Trending Upwards, Since 1965
Before taking on a mortgage you may be wondering if Winnipeg’s booming real estate market is simply enjoying a brief period of growth, and slated to flatline. This would be true of any other major city, but all you need to do is take a look at this chart from the Winnipeg Regional Real Estate Board:
At this point you can’t even call it a the sales growth a trend. Unlike any other market in Canada and North America for that matter - Winnipeg real estate is about as close to a sure thing as it can get.
Why Buy Anywhere Else?
Whether you live in Winnipeg and are looking for a home to raise your family, or an investor in Canada and want to put your money into a property that will pay dividends (on the equally hot rental market) while providing an ROI on future resale, there is no better place to buy. That facts speak for themselves.
Why Use a Mortgage Broker
Despite all of the above assurances that you’re capitalizing on the hottest real estate market in the country, you still want to leverage resources available to you. In other words, don’t approach lenders on your own. While borrowing rates are low, they will not advertise the best terms and rates. Dues to established relationships with lenders, a reputable mortgage broker will get you access to those preferred (to buyers) rates and terms and ensure that you get more from your money that by going at it alone.
Ready to take the next step? Contact Ron Chan at 204.290.9950 to discuss your goals.