Subscribe to our Real Estate Blog

St. John's Newfoundland is one of North America’s oldest cities. Spectacular coastlines, panoramic views, outdoor adventure, rich history and culture await all who live here.

Stephen & Fraser Winters your RE/MAX real estate agents for St. John's. Whether buying, selling or relocating to Newfoundland put the successful Father and Son Realtors to work for you. Fraser and Stephen will show you the smart approach to buying and selling St. John's Real Estate.

Looking to buy a home in St. John’s? Relocating from another city to St. John's? Fraser and Stephen Winters are here to help you! Whether you are buying or selling, take advantage of our free St. John's real estate market reports and access to the St. John's area MLS.

Since Chevron signed the multibillion-dollar memorandum of understanding to develop the Hebron offshore oilfield project back in August 2007, St. John's real estate and surrounding areas have gained favorable optimism and increases in residential homes. Looking to sell you home for TOP DOLLAR? Contact Fraser and Stephen Winters for your free, confidential Home Market Evaluation

This real estate blog is written by Fraser & Stephen Winters. We both are full time successful top producing RE/MAX Realtors in St. John's, Newfoundland. The information contained on this website is from sources believed to be reliable. However, it may be incorrect. This information should not be relied upon without personal verification. We assume no responsibility for its accuracy. This information is not intended to solicit clients already under contract. For more information about us visit our website.
Looking for neighborhoods or school information for a particular street in St. John's or Mount Pearl? We can help you find the right neighborhood by browsing information on schools and property values and much more.

Hebron: the after effect

August 26, 2008 · Filed Under Market Trends, Newfoundland Oil and Gas, St. John's Investments and St. John's Real Estate

Well, it’s almost a week since the big Hebron deal was signed. Lots of talk, hype and rumors about the real estate market has surfaced. I’ve “heard” houses being jacked up 40k to 50k the day after and keep getting questions from my past clients….are they true? Remember the quote, “Believe half of what you see and none of what you hear.” There have been a fair number of listings this past week. None to me seem 40 to 50k over where they should be. Does this mean that people will not be cashing in on the positive news? Of course they will. If I personally had my house to sell I would “try” it as well.

I was interviewed by CBC Radio last week, the same day that Hebron was signed, and asked my opinion on the effect of the news. Here is a clip of the interview. (Click here for the full article NL housing prices jump as Hebron signed)

Steve Winters, a realtor with Remax, said he noticed the trend begin in the spring, as speculation swirled of a coming Hebron deal.

“We’re starting to see the prices jump, and what $150,000 could get you last year is not going to get you near this year,” Winters said, adding that people from Western Canada, in places such as Fort McMurray and Vancouver, are buying homes on the northeast Avalon sight unseen.

Winters said some people in Newfoundland may get pushed out of the market because of the sudden increase, and that home buyers may not be able to buy the house for which they just received mortgage approval from a bank.

Personally, my thoughts for the rest of this year: gains will be fairly consistant in an upward trend. Maybe another 5% gain til the end of 2008. Remember we have already seen at least a 20% increase from the beginning of the year from current stats.

CHMC is stating that the next 3 - 5 years look VERY promising for Newfoundland Real Estate. A 15% - 20% increase per year. Quite possible to double the cost of a property in St. John’s in 5 years in a good area.

Tags: chmc, hebron, hebron signed, newfoundland real estate, remax, steve winters