Melbourne was Canada’s 1167th most expensive suburb by listed median house price this month.
The $329,950 price tag on the median Melbourne home means that it is above the cost of most houses in the country.
In province, the most common property on the listings this month has 3 bedrooms, in this neighbourhood it’s 3.
Quebec has the second most amount of properties available to property investors, with Melbourne having 630th most in the province, out of a total of 1047.
As one of Quebec’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.
The amount of homes for sale in neighbourhood has stayed the same over the last three months – this means that supply and demand economics would mean that the pressure on house prices has also remained constant.
Is Melbourne a good investment prospect? It’s never a perfect science, but the data we have given us a number of indicators.
Stock on the market can be an important leading indicator of whether market pressure will be on prices to rise or fall – in Melbourne there is about the same amount of stock than three months ago. This would indicate housing stock pressure remaining the same.