Regina’s remarkably stable economy – which is boosted by a diverse selection of strong industries including energy and manufacturing, as well as information technology and public service – continues to attract would-be home buyers.

“Your housing costs are relatively cheaper and you have more family, disposable income to spend on quality of life and other activities,” Economic Development Regina CEO John Lee said earlier this year.

These observations were supported by findings published by Royal LePage report earlier this month, which indicated that greater sales activity is a distinct possibility in the very near future.

The market’s average housing price will likely shrink by 6.3% annually during the fourth quarter, ending up at $305,440.This will come in the wake of another drop of 5.9% year-over-year during Q3 2019.

“In ten years, there’s never been a better time to buy in Regina;homes are affordable and we expect to see more activity in the coming months,” Royal LePage Regina Realty managing partner Mike Duggleby said.

By asset class, the median price of two-storey homes fell by 6.9% annually during the third quarter to $374,886.Meanwhile, bungalows contracted by 5.4% to $286,544, and condos had a more

Regina’s remarkably stable economy – which is boosted by a diverse selection of strong industries including energy and manufacturing, as well as information technology and public service – continues to attract would-be home buyers.

“Your housing costs are relatively cheaper and you have more family, disposable income to spend on quality of life and other activities,” Economic Development Regina CEO John Lee said earlier this year.

These observations were supported by findings published by Royal LePage report earlier this month, which indicated that greater sales activity is a distinct possibility in the very near future.

The market’s average housing price will likely shrink by 6.3% annually during the fourth quarter, ending up at $305,440.This will come in the wake of another drop of 5.9% year-over-year during Q3 2019.

“In ten years, there’s never been a better time to buy in Regina;homes are affordable and we expect to see more activity in the coming months,” Royal LePage Regina Realty managing partner Mike Duggleby said.

By asset class, the median price of two-storey homes fell by 6.9% annually during the third quarter to $374,886.Meanwhile, bungalows contracted by 5.4% to $286,544, and condos had a more measured 3.4% decline to $218,671.

Are you looking to invest in property?If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage.Click here to get help choosing the best mortgage rate[1]

References

  1. ^ Click here to get help choosing the best mortgage rate (www.canadianrealestatemagazine.ca)

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