Stephen & Fraser Winters your RE/MAX real estate agents for St. John's. Buying, selling or relocating to St. John's Newfoundland? Put the successful Father and Son Realtor team to work for you. Fraser and Stephen will show you the smart approach to buying and selling St. John's Real Estate.
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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.
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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
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Little Change in Investment Properties Vacancy rates in St. John’s Metro
According to the results of the fall 2009 rental market survey released today by Canada Mortgage and Housing Corporation (CMHC), the vacancy rate in the St. John’s census metropolitan area (CMA) was 0.9 per cent in October compared to a similar 0.8 per cent vacancy rate in 2008. The average two bedroom monthly rent increased to $677. “Solid economic activity and positive employment growth within the St. John’s area sustained rental market demand, resulting in low vacancies and higher rents throughout 2009,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “The local oil industry and a lengthy list of major capital projects continued to stimulate local economic growth and in-migration to the region this year,” added Janes. Provincially, vacancy rates in percentage terms were 0.4 in the Corner Brook census agglomerate (CA), 1.6 in Gander and 1.7 in Grand Falls-Windsor CA. The combined provincial vacancy rate for all centres surveyed was 1.0 per cent.
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Mortgage Rates
Iam currently living in Sidney BC working as a Carpenter/Builder. I was born and raised in St Lawrence NFLD and looking at starting a Construction business in St.John’s.
What is happening to the housing industry there? Is their a demand for builders or inverstors?
Thanks for any help on this matter.
Philip Turpin
Hey Philip,
Lots of activity in the near future for real estate in St. John’s, Paradise, Mount Pearl and surrounding areas. There seems to be new homes starting construction everywhere now as people locally as well as investors from outside Newfoundland are interested in investing in the St. John’s real estate market.
The outlook for Newfoundland real estate looks good from the way I see it.
Have a super day!
Steve Winters
The data for theCalgary real estate markets appears to be following a similar to trend. Hopefully these signs point towards the recovery of realty in Canada after 2008′s downturn.