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Seven-Figure Real Estate Still Goes a Long Way in Winnipeg

March 6, 2017 8:55 AM | News

129 Autumnview Drive

129 Autumnview Drive, Winnipeg, MB – $990,000, Bedrooms: 4, Bathrooms: 4, Living Area: 2,621 sq. ft., Lot Size: 10,496 sq. ft. (CNW GROUP / ROYAL LEPAGE)

WINNIPEG — $1 million can either buy you fixer-upper in Canada or a spacious starter “mansion” in some provinces.

A new report from real estate company Royal LePage says Winnipeg delivers the best bang for your buck if you have a million-dollar housing budget.

“Buyers with million-dollar budgets in Winnipeg are able to live like kings,” said Michael Froese, managing partner, Royal LePage Prime Real Estate. “Whether it’s an older colonial-type estate or modern mansion, the region’s extreme affordability relative to elsewhere provides purchasers with this budget access to a true luxury home.”

Royal LePage gave 129 Autumnview Drive in South Pointe as an example, with a listing price of $990,000. The four-bedroom, four-baths piece of real estate sits on a 10,496 sq. ft. lot with 2,621 sq. ft. of living space.

When it comes to lot size, Saskatoon comes out on top if you have $1 million to spend, where the report says homes in that price range were hard to come by a decade ago.

In contrast, Vancouver offered prospective homebuyers the least amount of home for $1 million, with an average of 1,229 sq. ft. on a 3,134 sq. ft. lot.

The profile of a $1 million buyer was also found to vary by region, with developers and first-time buyers dominating the $1 million two-storey property segment in Canada’s largest metropolitan areas, while wealthy young to middle-aged professional couples with children acted as the predominant purchasers elsewhere.