Some people rudely refer to New Brunswick as the armpit of Canada. This is not only unfair; it is also plainly untrue. Between the booming cities of Saint John’s, Fredericton and Moncton, the small province that lies between Quebec and Nova Scotia (more traditional destinations for tourists) has plenty to offer by way of industry, education and tourism. In particular, it has been interesting over the past few years to watch the real estate climate in Moncton shift from a buyer’s market to a more balanced market. Investors who were able to catch this trend early are likely patting themselves on the back, and if you’re a real estate investor looking for the next frontier of lucrative rental properties, there’s still time to catch the market before it reaches saturation.
While the bigger Canadian cities such as Toronto and Vancouver have reached a point where it seems as though the housing bubbles could not possibly grow any bigger, the smaller size and relative obscurity of a city like Moncton is like a secret superpower. With four major universities, several vocational schools and a slew of corporate headquarters, Moncton is growing at a reliable rate. Since many residents in big cities are being priced out of their homes, Moncton offers a solid option in which to cultivate a stable life with affordable living options.
Moncton is not only a good option for individuals in search of affordable housing; for those who work in the real estate industry, it offers an attractive alternative to the madness of markets in Toronto and Vancouver. Not only are these markets reaching saturation, they are also crowded with people who jumped on the real estate bandwagon during the boom of the past decade. A savvy real estate agent would do well to relocate to Moncton and cash in on the growing market. One way to help facilitate a transition is a financial real estate instrument called a commission advance –FAQs about commission advances are readily available on the web for your perusal.
The New Brunswick government has been steadily investing money into businesses in Moncton, making it a good bet for steady growth in the future. Real estate experts are predicting that demand for housing will neither shrink nor grow aggressively in the coming years, which certainly makes the city an attractive gambit for realtors in search of a stable, consistent market.
Most of the available properties in Moncton are very old, buyers and renters should be wary of homes that have fatal flaws in the structure or problems with mold or other forms of infestation. The upside to this is that the age of many properties is reflected in their price, so that as long as the home is properly inspected and checks out, you may get a steal of a deal.
According to the most recent statistics, Moncton’s neighbouring city of Saint John has some of the lowest real estate prices in the country. The problem is, however, neither the population nor the economy is growing. Moncton is the opposite of Saint John, it is on the rise and offers buyers and sellers a reasonable economic environment.