Westbridge, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.3% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $605,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,100 |
| Previous Population (2020) | 15,000 |
| Population Change | 0.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,600.0 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Westbridge, British Columbia, exhibits moderate growth with a median house price currently standing at $495,000, which marks a year-over-year increase of 3.3%. This increment indicates a steady demand for housing in the area, reflecting an optimistic sentiment among homebuyers and investors alike. Furthermore, the median apartment price is valued at $295,000, having risen by 2% year-over-year.
The population of Westbridge has seen a slight upward trend with a growth rate of 0.7%, which translates to an increasing need for accommodation. However, the modest nature of this population growth suggests that the housing market is not experiencing aggressive demand pressures at this time.
2. Investment Opportunities and Potential
The steady growth in property values coupled with the ongoing population increase points towards promising investment opportunities within Westbridge’s real estate market. Single-family homes present as a stable asset class given their consistent appreciation of 3.3% over the past year. As for apartments, while the appreciation rate is slightly lower at 2%, they offer an accessible entry point for first-time investors or those looking to diversify their portfolios.
In addition to purchasing properties for capital gains, the current market conditions also support investment strategies such as buy-and-hold for rental income. Given Westbridge’s growing populace and its appeal as a residential community, rental properties may yield sustainable returns due to the potential for both rental income and long-term capital appreciation.
3. Future Market Outlook
Looking ahead, Westbridge’s real estate market is positioned to maintain its course of gradual growth. The observed trends suggest that property values will continue to rise albeit at a conservative pace. This projection is supported by the current economic indicators and demographic patterns indicating stability within the region.
The gentle population growth will likely sustain demand without causing an overheated market scenario. As such, investors can anticipate continued opportunities for measured capital growth and robust investment performance in both residential sectors—houses and apartments—over the coming years.
It’s important for prospective investors to keep abreast of local economic developments and infrastructural projects that could influence future market dynamics significantly. Vigilance in monitoring these factors will be key to maximizing investment outcomes in Westbridge’s real estate sector.
