For the last seven years the strongest demand and the majority of new homes built have been in the South area of the City – south St. Boniface, south St. Vital and Fort Garry. Single family dwellings outnumber the amount of multi-family dwellings built.
Over the past decade Winnipeg experienced significant rise in house prices. There was a 115 per cent increase in the average price of a new house and a 170 per cent increase in the average price of a resale house. Because of the population growth and demand for more homes, house prices are expected to continue increasing.
Nevertheless, house prices in Winnipeg are still low compared to other cities in Canada. A 1500 sq ft two-storey house that costs about $300,000 in Winnipeg would cost 415,000 in Calgary and $865,000 in Vancouver.
Rental costs in Winnipeg are also among the lowest in Canada. The average cost of a two-bedroom apartment is $875 compared to $1,234 in Vancouver.