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 | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 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
Current Market Conditions and Trends
The real estate market in Bognor, Ontario, is currently characterized by moderate growth in property values. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is experiencing steady appreciation. This trend suggests a healthy demand for housing and a balanced market that avoids the extremes of rapid inflation or deflation in property values.
In contrast, the median apartment price stands at $300,000, with a more modest year-over-year growth of 2.1%. This indicates that while apartments are also appreciating in value, the pace is slower compared to houses. This could signal a higher demand for single-family homes or possibly reflect a different demographic interest in apartment living.
The population of Bognor has reached 15,000 people with an impressive growth rate of 7.1%. Such substantial population growth is likely contributing to the overall demand for housing in the area and may be partially responsible for driving up property prices.
Investment Opportunities and Potential
The investment opportunities in Bognor are promising given the steady growth in the housing market. The consistent appreciation of house prices at 3.5% year-over-year signifies that investing in residential properties could yield solid returns over time. Additionally, with apartments experiencing growth as well, though at a slower rate, they represent a potentially more accessible entry point for investors looking to capitalize on rental markets or seeking lower-cost investment options.
Given the robust population growth, there will likely be an ongoing demand for rental properties as new residents look for homes. Investors might explore various segments within the market—such as luxury homes, starter homes, or multi-family residences—to diversify their portfolios and tap into different demographics moving into the area.
Future Market Outlook
The future outlook of Bognor’s real estate market appears positive. Assuming current trends continue, both housing and apartment prices are expected to maintain their gradual increase. The strong population growth serves as an indicator that demand for housing will remain high which should support continued appreciation in property values.
It’s critical for potential investors to consider broader economic factors such as employment rates, infrastructure development, and interest rates which can influence market conditions. However, barring any unforeseen economic shifts or policy changes affecting real estate specifically, Bognor’s market is poised for sustained growth making it an attractive location for both homeownership and real estate investment.
