Adrian Bell of Century 21 Prospect Realty told EdgeYK.com that anyone renting a two-bedroom apartment in the city would be better off buying a house.
Average rent for a two-bedroom apartment in Yellowknife was $1,686, according to CMHC figures last October, an annual rise of 1.4 per cent.
Supply of homes in the city has increased over the last decade and Mr Bell is optimistic about the market, especially as the booming diamond mining industry can offer employment opportunities for those who have lost work in the oil sector.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Arnold's Cove, Aston-Jonction, Hafford, Tofino, Chibougamau
A Yellowknife realtor says that despite talk of corrections and bubbles those who are renting in the area could be better off as homeowners.