News

Regional Extremes to be Reduced

According to recent surveys, the median price of housing in Fredericton seems to have increased by over 10 percent in the year. In contrast, housing price increases remained nearly the same in Moncton in the same period, and the prices in Saint John increased even more than Fredericton—rising by over 13 percent.

Right after Saint John and Fredericton, the increase in housing prices that came in third place were those in Halifax, with a year over year rise of over 4 percent. In Charlottetown, the increase in housing prices amounted to around 3 percent.

Towards the bottom of the spectrum, according to surveys, the housing prices declined by negative 1.5 percent in the capital of Newfoundland and Labrador.

In the previous year, it was said that there were very pronounced extremes regarding the real estate industry based on different regions. In 2016, the rates ranged from negative numbers in some areas to double digits in others. However, it is expected that during the year of 2017, such regional differences will be greatly reduced.