As of the 2011 census, there were more than 314,000 households in New Brunswick, which was significantly smaller than its neighboring province Quebec, which had over 3 million. An average number of people per household was 2.3. Most of the households owned a single-detached house followed by other dwelling, movable dwelling, and apartments and high-rises.
According to Canadian Real Estate Association, the average home price in New Brunswick as of 2016 is over $180,000, almost 10% increase than in 2015. At least 1,700 residences were added to the listings in May 2016, and the homes stay in the inventory for around 9 months.
New Brunswick has a lower online mortgage inquiry than Ontario, Alberta, Quebec, and British Columbia. The average age of the borrower is 36 years old while the average gross income is $46,000, lower than the overall average of $60,000. The average mortgage in Fredericton, its capital, is $123,000, which isn’t exactly very high when compared to other areas such as Notre-Dame and Lincoln, which is $189,000. St. John, one of the biggest cities in the province, has an average mortgage similar to that of Fredericton
All You Need to Know About Refinancing Your Mortgage When you get pre-approved for a mortgage, you get an idea about the value of your home as well as the mortgage payments associated with it. The pre-approval process also guarantees … Read the full article
Financing a Pre-Construction Condo The purchasing process for a pre-construction condo – a unit that has not yet been built – is not as easy as buying a resale unit, but it gives you the opportunity to tailor your home … Read the full article
When you get pre-approved for a mortgage, you get an idea about the value of your home as well as the mortgage payments associated with it. The pre-approval process also guarantees a fixed interest rate for a specific period of … Read the full article