Young buyers shifting to remote work lifestyle driving Winnipeg real estate market: report
A new report is predicting that Winnipeg will see a seller’s market when it comes to the 2022 real estate landscape.
Re/Max’s 2022 Canadian Housing Market Outlook Report said young couples enjoying the freedom of working from home are driving the demand in Winnipeg, particularly for one and two-storey detached homes.
Re/Max predicts that Winnipeg will continue to attract young buyers into 2022.
The report added that out-of-province buyers came to Manitoba for the affordability, but interprovincial moves were largely impacted by remote work lifestyle changes.
In a statement, Re/Max confirmed to CTV News Winnipeg that it expects Winnipeg will remain a seller’s market next year, and is “expected to hold steady next year provided interest rates and inventory remain low.”
The report shows the average residential sale price in Winnipeg from Jan. 1 to Oct. 31, 2021, was $311,941. It estimates the average residential price in 2022 will be $322, 859 – an increase of 3.5 per cent. Re/Max predicts sales will increase by seven per cent in 2022.
Correction
A previous version of this article said Winnipeg was predicted to see a buyer’s market in 2022. However, it has now been updated to say it is predicted to be a seller’s market. Re/Max confirmed there was an earlier error in the report saying Winnipeg would remain a buyer’s market. Re/Max said this was due to a back-end error, resulting in the misinterpretation of the market type.
CTVNews.ca Top Stories
BREAKING American millionaire Jonathan Lehrer denied bail after being charged with killing Canadian couple
American millionaire Jonathan Lehrer, one of two men charged in the killings of a Canadian couple in Dominica, has been denied bail.
LeBlanc says he plans to run in next election, under Trudeau's leadership
Cabinet minister Dominic LeBlanc says he plans to run in the next election as a candidate under Prime Minister Justin Trudeau's leadership, amid questions about his rumoured interest in succeeding his longtime friend for the top job.
Grandparent scam suspects had ties to Italian organized crime, Ontario police allege
A group of suspects that allegedly defrauded seniors across Ontario and other parts of Canada using a so-called emergency grandparent scam appear to have ties to 'Italian traditional organized crime,' according to an investigator involved in the OPP-led probe.
'Shopaholic' author Sophie Kinsella reveals brain cancer diagnosis
Sophie Kinsella, the best-selling author behind the 'Shopaholic' book series, has revealed that she is receiving treatment for brain cancer.
Motion to allow keffiyehs at Ontario legislature fails
A motion to reverse a ban on the keffiyeh within Queen’s Park failed to receive unanimous consent Thursday just moments after Ontario Premier Doug Ford reiterated his view that prohibiting the garment in the House is divisive.
Trend Line Anger, pessimism towards federal government reach six-year high: Nanos survey
Most Canadians in March reported feeling angry or pessimistic towards the federal government than at any point in the last six years, according to a survey by Nanos Research.
Taylor Swift's new album allegedly 'leaked' on social media and it's causing a frenzy
A Google Drive link allegedly containing 17 tracks that are purportedly from Swift's eagerly awaited "The Tortured Poets Department" album has been making the rounds on the internet in the past day and people are equal parts mad, sad and happy about it.
Calgary man charged with manslaughter in death of toddler
Calgary police say Winston Campbell, 45, has been charged in the death of a two-year-old girl in 2022.
Allman Brothers Band co-founder and legendary guitarist Dickey Betts dies at 80
Guitar legend Dickey Betts, who co-founded the Allman Brothers Band and wrote their biggest hit, 'Ramblin' Man,' has died. He was 80.