Real Estate

Housing Costs

As one can see from the graph below, Regina fares extremely well when compared to other major Canadian centres with regards to housing prices. The following graph shows the average house price for a single-family home on the resale market in June 2008.  Despite strong sales growth in Regina – which indicates the strength of our local economy as well, the average price is still considerably less than other major Canadian centres and comparable to centres such as Winnipeg.

Further information on the Regina housing market can be obtained from the Association of Regina Realtors including MLS listings and housing statistics.  For reference, the average price of all MLS residential types sold was $226,057 CDN over the first six months of 2008.

The Regina region offers homebuyers a variety of homes, neighbourhoods and prices. There are many options to choose from such as downtown or warehouse condominiums, character homes, new contemporary developments, acreages minutes from the City and lakefront properties within reasonable commuting distances.

Value for money comes to mind when investing in a home in the Regina region. Homeowners relocating to the area can afford to move up the property ladder, write down their mortgages, own a resort/vacation home, or invest the cash difference elsewhere.

Rental Market

While vacancy rates – like most cities in western Canada – are low, the Regina region offers a variety of options for renters in every area of the city. From apartments, to campus residencies, to home rentals, to condominiums – you can find quality options in many price ranges.

As a result of vacancy rates being low, western Canadian cities have all experienced escalations in their rental rates.  At the same time, the rental market in Regina remains very competitive compared to other major centres.  The graph below demonstrates Regina’s competitiveness in rental rates.