6 Reasons Why Fredericton Real Estate Should Be on Your List

Is the Fredericton real estate market on your list of desirable places to live in Canada? If not, it should be!

Real estate in Fredericton is an inspiring endeavour because the city provides residents with an extraordinary mix of natural beauty, culture, and history. The New Brunswick capital maintains a quaint, colonial charm unrivalled anywhere in Atlantic Canada or the rest of the country.

Unsure if the Fredericton housing market is right for you?

Here are six reasons why the Fredericton real estate should be on your list:

Rich History and Culture

Fredericton is one of the oldest cities in Canada and possesses a rich presence of museums, heritage sites, and spectacular architecture. Some of these sites include the Garrison District, the Fredericton Region Museum, and the New Brunswick Legislative Assembly building. Fredericton also enjoys a very active arts and culture scene. Every year, there are different festivals and events to keep people engaged.

Natural Beauty

The city is located on the banks of Saint John River and has some of the most beautiful natural landscapes in the country. It is also ideal for people who enjoy outdoor activities, such as fishing, biking, hiking, and kayaking.

Academic Vibe

Are academics vital to you? Whether you are a lifelong learner or have children, you wish to study at exceptional post-secondary institutions, Fredericton is for you.

Indeed, Fredericton is home to some of the most reputable universities in Canada, including the University of New Brunswick and St. Thomas University. These institutions are known for their range of academic programs, excellent faculty, and sophisticated research facilities. The province also supports both English and French school systems. The Greater Fredericton region has two central school districts: the Anglophone West School District and District Scholar Francophone Sud.

Stable Economy

This might not have been accurate five years ago, but Fredericton now maintains a thriving economy with a rapidly growing tech sector. A broad array of industries can be found in this Maritimes oasis, offering sufficient employment opportunities for the population. Many also contend that Fredericton is a suitable location for entrepreneurs and innovations. Ultimately, Fredericton is a leader in agriculture, financial services, cybersecurity, and IT.

Demographics

Here is a fact that you might not be aware of: New Brunswick is the only bilingual province in Canada.

That’s right. Both French and English are the official languages in the eastern province.

As a result, if you are bilingual and considering buying a property, Fredericton real estate might be an attractive option for you and your family.

In addition to French and English, there is also significant diversity in the province, with many residents having European roots, a noteworthy Aboriginal population, and immigrants from the U.S. and Western Europe. Fredericton also has a small population, with only 63,115 people residing in the province. In the end, it is a suitable place for those living to settle in a cozy place.

Bustling Real Estate Market

The Fredericton real estate market in New Brunswick is bustling and should be a good choice for people looking for a cozy residential property, be it in the city or rural communities that maintain beautiful landscapes. Indeed, the city is family-friendly, and real estate prices are much lower than other locations in the Canadian real estate market.

For first-time home buyers, there are some benefits to purchasing Fredericton real estate.

Interested parties can take advantage of first-time home buyer incentives and programs. Eligible buyers can receive an interest-free loan that covers between five percent and 10 per cent of their home’s purchase price. The home buyer’s plan also allows eligible parties to tap into their RRSPs and withdraw up to $35,000 tax-free for their new home.

Additionally, New Brunswick provides a reduction in property taxes over a stipulated period. While there are conditions that must be met to benefit from this, it is an attractive benefit for new buyers.

The provincial government extends incentives for those who are more environmentally conscious. These typically consist of rebates on energy-efficient appliances and grants for home retrofits.

What are the housing market conditions like anyway?

According to the Real Estate Board of the Fredericton Area, residential property sales advanced 2.2 per cent year-over-year in October, totalling 184 units. The MLS® composite benchmark Home Price Index (HPI) rose at an annualized pace of 1.6 per cent to $290,500. Supply has been mixed, with new listings soaring nearly 21 per cent year-over-year and active listings tumbling more than three percent.

The Best of Everything

Overall, Fredericton is a great option for those wanting to settle in a city that is not heavily populated and offers a rich history, a vibrant culture, strong academic options, and significant job opportunities.