Hillview, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.5% |
| Quarterly trend | 1.8% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,300 |
| Previous Population (2020) | 14,900 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Hillview, Newfoundland and Labrador, the real estate market has been experiencing a stable increase in property values. The median house price currently stands at $485,000, which represents a 2.8% year-over-year growth. This indicates a healthy appreciation in home values, reflecting a growing demand within the market.
The apartment sector is also showing positive momentum, with the median apartment price at $295,000, and following a similar upward trend with a 1.8% year-over-year increase. The steady growth in apartment prices suggests that smaller residential units are also in demand, possibly driven by first-time homebuyers or downsizers.
Hillview’s population currently sits at 15,300 residents, with a noticeable population growth of 2.7%. This demographic trend could be contributing to the increased housing demand, tightening the market further and pushing property values upward.
Investment Opportunities and Potential
With the ongoing positive trends in Hillview’s real estate market, investors should consider the potential for capital gains over the medium to long term. The consistent rise in housing prices indicates that investing in residential properties could yield profitable returns as the market conditions continue to strengthen.
The growth in population suggests an enduring need for housing which may fuel rental markets. Apartments, which have seen a slightly lower growth rate compared to houses, might present an approachable entry point for investors looking to capitalize on both rental income and property value appreciation.
The current data points towards a balanced real estate environment where both supply and demand are growing proportionally. Investors would be wise to focus on areas within Hillview where there is new development or infrastructure improvement which could lead to higher-than-average appreciation rates.
Future Market Outlook
The future outlook for Hillview’s real estate market remains positive. Given the steady population growth combined with ongoing house and apartment price increases, we can anticipate continued demand for housing. Barring any unforeseen economic changes or shifts in local policies that affect real estate directly, these trends are likely to persist.
However, prospective buyers and investors should monitor interest rate movements and any potential changes in mortgage regulations that could impact buyer affordability. Additionally, keeping an eye on national economic indicators will provide further insight into potential shifts that may affect local market dynamics.
In conclusion, Hillview appears poised for sustained growth and stability in its real estate sector. Investors should proceed with cautious optimism while considering long-term strategies that align with current data trends.
