Things in the Canadian real estate market are heating up, as the Irving pipeline development planning continues to place focus on the Saint John area of New Brunswick. Saint John, which has always been a popular seaside town, is predicted as being the most promising investment for the next five to ten years. In fact, a recent CREA report indicated that home sales in Saint John are on the rise already, with home values increasing at a faster than an average rate (3 percent from December 2012 to January 2013) for the New Brunswick area.
The massive oil pipeline supplying Irving Refinery with up to 850,000 barrels of crude oil per day by the year 2017 is good news for the energy and transportation industries. This project will span thousands of kilometers from Alberta to Saint John, and is expected to drive up competition for prime real estate in this area for several reasons. Learn more about why Saint John offers a bright future for real estate investors looking for the deal of the century.
It’s a buyer’s market
According to a recent report from Realty Times, the Saint John real estate market is in a good place for buyers, with property values lowered by 5 percent on average. The list to sell ratio is around 95 percent, with less than 140 days on the market. Single family homes are averaging a value of $166,000 USD in Saint John, which by all accounts is an amazing price for waterfront property in North America. Harbor front property in Saint John can be purchased with as little as $20,000 down. Several other large real estate publishers, such as Trulia, are listing condos as low as $99,000. It’s clear that it’s currently a good time to invest in a primary residence or invest in rental property in Saint John while the housing market is at historical lows.
Great place to live, work, and retire
New Brunswick and the Saint John city limits are some of the safest areas in which to raise a family, start a career, or retire. Although it is the largest city on the western seaboard of Canada, Saint John is also a community center filled with a rich culture of English and Irish immigrants, who pride in maintaining safety even in the downtown and industrial areas. As the pipeline is expected to bring in thousands of new jobs, investing in real estate now will help you to establish yourself in Saint John before others arrive, giving you access to affordable homes in some of the more affluent neighborhoods. Retirees also find Saint John to be a good place to retire due to the moderate temperatures, access to public transportation, and a thriving tourist trade due to cruise ships.
History and modern culture meet
In addition to the wonderful real estate values and amenities that Saint John offers, there is an amazing mix of cultures that make this city a hub of activities year round. From museums and shops to forts and religious centers, Saint John has something for everyone. Experience the Cherry Brook Zoo, home to exotic and endangered animal species, and multiple grand parks which grace the city landscape. Music and the love of arts is evident here too. As more people head for Saint Johns to live and work, there is also an increased technology presence, which appeals to all age groups. Where ever you go in Saint John, you’ll find friendly people and a bright future for this seaside city.