Across the nation CREW lists data for 5162 neighbourhoods, and this month Richmond is number 1213 putting it ahead of most neighbourhoods .
In Aug the median listed house price of $325,000 in Richmond was an above average compared to the rest of Ontario.
Can we guarantee how well Richmond is going to do next year? No, but we can look at the data we have and use it as a starting point before doing research.
Stock on the market can be an important leading indicator of whether market pressure will be on prices to rise or fall – in Richmond there is less stock than three months ago. This would indicate home price pressure increasing as housing stock availability drops.
When it comes to the size of the properties currently available to property investors in this neighbourhood, they tend to have the average number of bedrooms than the most commonly available across the nation.
There are a number of important pieces of research you should do before deciding where to buy an investment property – this data for Richmond will hopefully provide an indicator to help you where to research in-depth
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.