Melbourne was Canada’s 2397th most expensive suburb by listed median house price this month.
When our research team crunched the numbers we calculated that Melbourne has a median home price of $229,450.
Nova Scotia has the fifth most amount of properties available to property investors, with Melbourne having 587th most in the province, out of a total of 825.
When we look at the data we have, it can help with trying to establish whether or not Melbourne is a good investment target.
One of the important leading indicators for property investors is whether the amount of stock on the market is increasing or decreasing – as more comes on buyers have more choice so prices can tend to drop. In Melbourne, the amount of stock on the market is about the same which is neither good nor bad indicator for house prices. Three months ago there were 2, this month we show 2.
As one of Nova Scotia’s many potential real estate investment neighbourhoods, Melbourne needs to be carefully researched before investing in – and remember to check especially the locations within an area before spending - the old estate agent’s mantra of location, location, location has never lost its importance.
It’s always hard to tell what property prices will do over the coming months, but over the last three months the properties available for purchase in Melbourne have stayed pretty much the same which would tend to indicate that demand is steady.