St. John’s market activity early this spring experienced an uptick in virtual transactions due to the COVID-19 pandemic. However, market activity is now expected to slow down, due to the duration of the pandemic and homebuyers taking a “wait and see” approach in case interest rates are lowered again. In its latest interest rate announcement, the Bank of Canada dropped its benchmark rate to a low 0.25 per cent. Affordability remains a top concern for the buyers in the region, many of whom are retirees and first-time homebuyers.
So, what are the best neighbourhoods in St. John’s to buy a house? RE/MAX explores more than 300 of Canada’s most liveable hot spots in the new 2020 Liveability Report. Here are our top picks in St. John’s.
10 Most Liveable Neighbourhoods in St. John’s
Conception Bay South
Most Affordable Neighbourhoods in St. John’s
Other highly liveable neighbourhoods in St. John’s include Galway, Rivers Edge and Grand Meadows in Paradise – these neighbourhoods are also some of St. John’s most affordable neighbourhoods, with access to green spaces and close proximity to retail.
Future Liveability in St. John’s
Overall liveability is expected to improve in the region over the next three to five years. The tight-knit vibe of greater St. John’s area is evidence that people love their neighbourhoods and come together to lend a helping hand. Newfoundlanders & Labradorians take pride in their homes.
Liveability is about quality of life at a local level. A neighbourhood’s dynamism, or lack thereof, involves a delicate convergence between independent small businesses, public institutions, arts and culture, green spaces and housing, to name a few. The COVID-19 tragedy will impact neighbourhood ecosystems differently across the country, just as the virus itself has. Yet, civic/local pride has been proliferating throughout this crisis in inspiring ways, giving Canadians hope that micro-economies, including real estate, have the resilience to be restored in the near and mid-term.
Lydia McNutt is an award-winning journalist and editor, with almost two decades of experience in the real estate sector. At RE/MAX, Lydia is responsible for developing consumer-facing content while promoting the RE/MAX brand. This includes housing market reports and RE/MAX network news featured on the RE/MAX Canada blog and social media channels. Lydia has been published nationally on topics ranging from real estate, architecture, decor and design, to finance, business, technology, entertainment and lifestyle. When she’s not head-down at her writing desk, Lydia is busy “momming” in Oakville, Ontario, where she lives with her husband, two kids and their chocolate lab, Betty. Email Lydia at firstname.lastname@example.org