The average price for a house in Newfoundland stood at approximately 293,573 Canadian dollars in 2023. According to the forecast, house prices in the province are set to continue rising in the next two years, reaching 315,402 Canadian dollars in 2025. Newfoundland is the second-most affordable province for housing in Canada, after New Brunswick.
Newfoundland
Newfoundland and Labrador is the most easterly province in Canada. It’s an English-speaking province which borders French-speaking Quebec. The population of Newfoundland and Labrador has decreased since 2016, and stood most recently at 525,355 people. Its provincial capital and largest city is St. John’s. The economy of this province is heavily contingent on natural resources. The expansion of oil exportation has helped the economy grow, after it suffered during recent decades. Unfortunately, the population of Newfoundland and Labrador suffers one of the highest unemployment rates in Canada. Even though the low-income rate in Newfoundland and Labrador has decreased since 2000, 15 percent of its population is still considered low income.
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CREA. (January 15, 2024). Average house prices in Newfoundland, Canada from 2018 to 2023, with a forecast by 2025 (in Canadian dollars) [Graph]. In Statista. Retrieved November 04, 2024, from https://www.statista.com/statistics/604269/median-house-prices-newfoundland/
CREA. "Average house prices in Newfoundland, Canada from 2018 to 2023, with a forecast by 2025 (in Canadian dollars)." Chart. January 15, 2024. Statista. Accessed November 04, 2024. https://www.statista.com/statistics/604269/median-house-prices-newfoundland/
CREA. (2024). Average house prices in Newfoundland, Canada from 2018 to 2023, with a forecast by 2025 (in Canadian dollars). Statista. Statista Inc.. Accessed: November 04, 2024. https://www.statista.com/statistics/604269/median-house-prices-newfoundland/
CREA. "Average House Prices in Newfoundland, Canada from 2018 to 2023, with a Forecast by 2025 (in Canadian Dollars)." Statista, Statista Inc., 15 Jan 2024, https://www.statista.com/statistics/604269/median-house-prices-newfoundland/
CREA, Average house prices in Newfoundland, Canada from 2018 to 2023, with a forecast by 2025 (in Canadian dollars) Statista, https://www.statista.com/statistics/604269/median-house-prices-newfoundland/ (last visited November 04, 2024)
Average house prices in Newfoundland, Canada from 2018 to 2023, with a forecast by 2025 (in Canadian dollars) [Graph], CREA, January 15, 2024. [Online]. Available: https://www.statista.com/statistics/604269/median-house-prices-newfoundland/