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Are City dwellers driving Winnipeg's real estate market?

Blog by Greg Hamilton, REALTOR® | October 28th, 2014

Are the Winnipeg City dwellers driving the real estate market in Manitoba? It appears that other cosmopolitain cities are seeing a growth in young families and millennials taking advantage of the more convenient, yet smaller, housing. (see Globe and Mail article) This would be great to see in Winnipeg, however I don't think we are there yet! We are starting to see growth in available housing units but the transition is a slow one. We are already seeing densities increasing in nodes around the core creating wonderful communities. There are some fantastic restaurants and other amenities in Winnipeg's core areas and I think, as the districts densify, the appeal will grow. I am optimistic that the new City Council along with groups like Centre Venture and the Winnipeg City Planning Department will make this a continued priority. Density creates lively and dynamic communities that have less impact on our already fragile infrastructure. 

Winnipeg may never be a Vancouver or Toronto, however we can learn from these cities. If we applied some of their ideas to enhance our housing stock in order to attract ALL demographics to the city central neighbourhoods, we may slow the ever sprawling neighbourhoods that continue to consume a significant amount of city resources in construction and maintenance. At, this point, maybe the Winnipeg City Dwellers will drive the local real estate market!