Bognor, Ontario Real Estate Market Data
Updated: Nov 2024
House
Median price | $500,000 |
Monthly growth | 1.2% |
Quarterly trend | 3.5% |
Stock on market | 0.8% |
Apartment
Median price | $300,000 |
Monthly growth | 0.9% |
Quarterly trend | 2.1% |
Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $500,000 |
4 bedrooms | $620,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $340,000 |
3 bedrooms | $450,000 |
Demographics
Current Population (2025) | 15,000 |
Previous Population (2020) | 14,000 |
Population Change | 7.1% |
Total Private Dwellings | 6,000 |
Occupied Private Dwellings | 5,500 |
Population Density (per km²) | 1.5 |
Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Bognor, Ontario is currently characterized by a steady growth in property values, with the median house price sitting at $500,000 and experiencing a year-over-year increase of 3.5%. This growth rate suggests a healthy demand for residential properties in the area, reflecting a stable market that has avoided the volatility seen in some other regions.
Similarly, the apartment sector is demonstrating resilience, with the median apartment price reaching $300,000 and following an upward trend of 2.1% year-over-year. This moderate but continuous appreciation indicates sustained interest in multi-family dwellings, which can be attributed to both first-time homebuyers looking for affordable entry points into the housing market and downsizers seeking lower-maintenance living arrangements.
With a population of 15,000 that has grown by 7.1%, Bognor is also experiencing demographic expansion that contributes to the demand for housing. This population growth likely stems from various factors including economic opportunities, quality of life, and the area’s attractiveness to both young families and retirees.
2. Investment Opportunities and Potential
In light of Bognor’s solidifying real estate trends, there are several investment opportunities worth considering:
- Residential Development: With an increasing population and consistent property value appreciation, investing in new residential developments could cater to the incoming demand while yielding profitable returns as market prices rise.
- Rental Properties: Given the steady price trends for both houses and apartments, purchasing rental properties could provide investors with sustained income through rent and potential long-term capital gains.
- Renovation Projects: Due to the overall upswing in property values, there may be opportunities to invest in older properties needing renovation with an aim to sell at a higher price or rent at a premium after improvements are made.
Investors should conduct thorough due diligence to identify specific neighborhoods or property types that present the best potential based on their individual risk tolerance and investment horizon.
3. Future Market Outlook
The future outlook for Bognor’s real estate market remains promising due to several key factors:
- The consistent growth in median house and apartment prices indicates an underlying stability that is likely to continue barring unforeseen economic shifts.
- The robust population growth not only drives current demand but also signals future needs for additional housing as Bognor becomes increasingly popular as a place to live.
- Economic development initiatives within the region have the potential to attract new residents seeking employment opportunities, thus further propelling housing demand.
Careful monitoring of interest rates, regional economic policies, and infrastructure developments will be crucial for investors seeking to capitalize on Bognor’s real estate market. While current indicators are positive, maintaining agility within investment strategies will allow for adaptation as market dynamics evolve.