Overview of the Halifax Regional Municipality Real Estate Market
The Halifax real estate market includes all of Halifax Regional Municipality. This would be areas such as Halifax city, Dartmouth, Bedford, Sackville, Fall River, Hammonds Plains, Purcell's Cove and much more. This page will give a summary of what our Halifax Real Estate Market is like.
The HRM real estate market can best be described as strong and steady. There are usually not large swings in prices up or down. Even during the world financial crisis the Halifax market saw average prices increase slightly. The market remains consistently strong for several reasons. There is a tremendous of amount of government employment in Halifax including the military, hospitals, universities, municipal, Provincial and Federal Government departments and more. There are always transfers coming in and out of Halifax. Halifax is also the main business center in the Atlantic Provinces so many companies have their head offices in Halifax. It is also Nova Scotia's largest city so there is steady influx of people leaving the rural areas and relocating to Halifax.
Prices tend to rise in Halifax at a steady pace. An average year would see prices rise between 2% and 5%. This varies from area to area within the region. Prices do drop slightly in HRM but this is very uncommon. Prices tend to slowly rise here or at least remain the same.
So what can you expect if you purchase a home in Halifax? You can expect a modest price increase or no change year after year but not the huge increases that are seen in some of the larger cities in Canada.
© Copyright Sandy and Judy Hines. 2015