When buying real estate, selecting an area with a good appreciation rate is an important way of building equity over the long run. If you buy at home at $400,000 and the home appreciates at a rate of 5% annually, you will have grown your equity by $20,000 a year, or $110,512 over five years.
We’ve ranked the boroughs in the Montreal area according to price growth over the past 5 years. According to the results, Rosemont has seen the highest price growth at 43.33%, and Anjou has seen the worst at 4.66%.
Average home prices in Rosemont / La Petite-Patrie are just above $585,000 — almost 13% cheaper than the core’s average home price. Prices have appreciation just over 43.33% in the past 5 years – that’s an consistent annual rate of 8.6%. Recent condo development in this residential area has contributed to the desirability of single family homes, and helped detached homes gain in value.
One of the oldest historical districts in Montreal, Verdun offers a bilingual community, views of the St Lawrence river, and fully developed commercial avenues. In 2017, single family homes in Verdun say a 25% appreciation, making it the top performer that year. Over the 5 past years, home values have grown by 35.74%, which is $180,000 on a $500,000 home.
Montreal’s boroughs ranked according to 5-year real estate appreciation.
|Rank||Borough||Average Price||5 Year Price Growth|