Most of Winnipeg’s neighbourhoods offer a wide spectrum of residential real estate options – a diversity that generates a unique atmosphere that one would be hard pressed to find elsewhere.
Winnipeg is the capitol and largest city in Manitoba, the province called “Friendly Manitoba” for the warmth of the people living here. Manitoba is also known for its “Spirited Energy,” reflecting the province’s rich history of diverse cultures, varied climate, and northern location – creating a unique energy that radiates from its people.
Winnipeg has many lakes and nature recreational areas close by – perfect for those wanting to enjoy weekend getaways at a cottage or other recreational real estate. Many ex-Winnipeggers are returning home for that reason, as it offers a hard to beat quality of life.
The city is home to The Forks, where the Assiniboine and Red Rivers meet. The city’s two other major rivers are the Seine and La Salle. The Forks, originally a canoe trading place that Aboriginals used for thousands of years, is a popular tourist destination. And, according to the Guinness Book of World Records, the Red River is home to the largest average size of channel catfish and the longest skating rink (along the Red and Assiniboine rivers).
Winnipeg Neighbourhoods
There are 228 neighbourhoods in Winnipeg according to the 1996 Census, and everything is in close proximity. The result is plenty of choice in any search for residential real estate.
In other cities, commuting from home to work can be a stressor that can take up hours of your time. Not in Winnipeg, and that’s a big attraction. You can leave work at one end of the city and get home at the other end within minutes – even during rush hour. As a result, you can focus your choice of residential neighbourhood based on its unique charms and the relative pricing of its real estate, rather than simply settling for proximity to work.
There is a real family-oriented atmosphere in Winnipeg. And, thanks to its slightly slower pace, there is more time to spend with family.
Downtown Winnipeg is centred at the intersection of Portage Avenue and Main Street, reputed to be the windiest and most famous intersection in Canada. It is also the commercial centre of the city.
Surrounding downtown are various residential neighbourhoods and a plethora of real estate options.
Winnipeg features a diverse selection of styles of homes available for the choosing. Its real estate features a wide array of older homes, for example, from stately, grand century homes to smaller, more modest historic cottages. For those looking for newer homes, with the design features and conveniences those offer, many new homes have been built in and around Winnipeg over the last 30 years.
Affordable Housing
Winnipeg, compared to other cities in Canada, is an affordable place to call “home.” You can get very reasonably priced real estate to call home for as little as $150,000.
According to Royal Le Page real estate agent Chris Pennycook, “Winnipeg has a lot of great neighbourhoods. You have your strong markets for older homes like River Heights and Old Tuxedo, and then the newer homes market areas like Lindenwoods, Whiteridge, St. Vital, and Royalwood.”
In River Heights, there are older homes with character, tree-lined streets, parks, and close proximity to schools. The real estate prices there range from as low as $150,000 all the way to $3 million.
In Lindenwoods, there are more newly developed homes built some 26 years ago. The area is just a 15 minute drive from downtown Winnipeg for all your shopping needs and amenities.
In Wolseley, like Old River Heights, there are also older, more character homes, but they are smaller lots. But, the area and homes are well maintained, and has a real neighbourhood feel to it.
In Tuxedo, the streets are lined with trees and amenities are close at hand. This area also offers Assiniboine Park, bike paths, the forest, and the zoo.
Winnipeg Mortgages
Although Pennycook said local mortgage options have tightened somewhat, “the rates are fantastic.”
According to Daryl Harris, Manitoba Director of Canadian Association of Accredited Mortgage Professionals (CAAMP), “When you look at mortgage rates today, they’re lower than most of us have seen in our lifetime.”
Harris explained that The Bank of Canada has records going back to 1950 on average fixed-rate and long-term mortgage rates. “The best rate ever was five percent back in the early 1950s,” said Harris. “Discounted five-year rates available today are under four percent, so it’s really an opportune time to take advantage of such favourable mortgage finance conditions.”
According to Peter Squire, MLS market analyst for Winnipeg Realtors, one reason for Winnipeg’s stable real estate market is its solid marketplace fundamentals.
“We’ve always had a diverse, stable economy,” he said. “And, we don’t have the highs and lows that some other economies across the country do.”
With the continuous population growth the city enjoys, it is likely that Winnipeg will continue to feature a stable and growing real estate market.