By: Claire Thompson – December 01, 2018 03:11:19With the provincial government’s announcement that it will phase out the sale of land in Newfoundland, the market is turning into a bidding war.
It’s a trend that’s been seen across the province.
Property managers in the province have already seen a significant uptick in demand for properties in the past few months.
The market is heating up in many ways.
It’s also been driven by a spike in the cost of renting out a home.
That has driven many to rent out their homes and have more people moving to the province, says Michael Kooistra, a real estate agent in the city of Port Moody.
The price of homes in Newfoundland has been rising faster than other parts of the country, and the province is seeing an increasing number of people moving into the province to take advantage of the province’s cheaper real estate prices.
Kooist, who has been in the industry for 23 years, says the market has also seen an increase in demand.
“In Newfoundland, we’re seeing an increase of buyers in the last few months,” he says.
“People have been looking for places to live in a lot of different areas and we’re hearing that the cost is just a little bit higher than it was in the year before.”
The Newfoundland government announced the province will phase down the sale and auction of properties by April 1.
The move is expected to reduce the amount of land available for rental in the next few years, as it will allow the province more flexibility in the future.
However, it’s not all doom and gloom.
The province’s real estate agents have already been seeing a surge in demand in recent months.
There’s a real possibility the market could rise even higher than the government predicts, says John Lefebvre, a Halifax real estate broker.
“There is a lot going on in the market right now, and it is certainly an area that is not in a perfect place,” he said.
“We are seeing some people that are just getting into the market, they are finding new properties.
And we are seeing that more and more people are getting into this market.”
The price is just getting out of hand.
I’ve seen people buy properties that are only a few thousand dollars.
I just don’t see it going anywhere in the near future.
“Kooists wife, Lisa, says she is not surprised by the increase in the number of sales she has seen in recent weeks.”
People are looking for somewhere to live, and I think it has been that way for a while.”