First Central Mortgage update reveals Winnipeg’s residential real estate market solid
First Central Mortgage Funding, July 10, 2009 - According to a Royal LePage Market Survey Forecast and House Price Survey released today, average house prices during the second quarter across most Canadian markets began to appreciate, recovering from the lows experienced during the winter months. Winnipeg’s residential real estate market continues to exhibit stability with prices up slightly in the second quarter compared to the first.
Winnipeg house prices in various categories and housing segments were up modestly in the second quarter compared to last year.
• prices in River Heights are up 0.4 per cent year-over-year for a standard two-storey home to $279,100;
• prices in the North West area of the city are up 6.5 per cent year-over-year for a standard two-storey to $264,000.
• prices for standard condominiums in Charleswood, rose 5.1 per cent, year-over-year to $143,000
According to the Royal LePage study the average housing price in Winnipeg is expected to decrease slightly from the current price of $205,380 to $203,900 for the 2009 average, however this will result in a 3.5 per cent increase over last year’s average.
Total inventory in Winnipeg is expected to increase from 4,379 to 10,965 units by the end of 2009.
First Central Mortgage profiles a 1983 TV commercial for Winnipeg Transit encouraging people to “Jump on a Bus”. This video is suitable for all viewers.
