St. John’s, located in Newfoundland and Labrador, is one of the country’s most spectacular destinations.
As the capital of the province, St. John’s is Canada’s most easterly city and has a population of around 106,000.
Rated as one of the world’s top Oceanside cities, St. John’s is incredibly picturesque with stunning seascapes, waterfalls, icebergs, and infinite wilderness.
The city’s architecture is distinctive from the rest of Canada, and the residential streets are lined with bright, colourful buildings.
The mother tongue language is English, and the city is predominantly Christian, specifically Roman Catholic.
The city’s economy is primarily reliant on the ocean and its natural resources.
The government is the largest employer in the city, followed by Memorial University, and St. John’s is at the centre of Eastern Canada’s oil and gas industry.
A number of oil development companies have headquarters in and around the city, which supports the city’s economy.
However, the recent oil price decline has significantly impacted the economy and affected both production and employment levels. This has had a knock-on effect on the city’s real
estate and has slowly caused a decrease in listings and prices.
St. John’s enjoys a humid continental climate and low seasonal variation in temperature due to its positioning in the middle of the North Atlantic.
With the third most temperate climate in Canada (after Vancouver and Victoria), St. John’s summers are generally warm and pleasant (around 20 to 30°C), while winters are cold with regular snowfall (between -5 to -10°C on average).
Unlike other cities on the east coast, St. John’s rarely experiences extreme humidity, however, the weather is prone to changing very quickly due to its
coastal location.
St. John’s has a number of tourist attractions, including museums, historic sites, professional sporting teams, and urban parks. Pippy Park, in
particular, is a beautiful green area with walking and ski trails, golf courses, and protected wildlife habitats. With hundreds of restaurants
offering a range of cuisine – from local seafood to Canadian delicacies – St. John’s also has a thriving culinary scene. George Street is a
popular spot for clubs, pubs, bars, and restaurants, and the locals are known to be incredibly warm and inviting. The city hosts a number of
outdoor festivals and events in the summertime, including the Royal St. John’s Regatta, North America’s oldest annual sporting event, as well as
the George Street Music Festival which is the province’s longest running music event.
St. John’s Downtown area is situated to the west of St. John’s Harbour, and is a very desirable neighbourhood for all types of residents. The
area features bright and colourful Victorian houses, as well as a range of condominium units. Georgetown in the City Centre has also been voted
as one of the best areas to live in.
East
With plenty of green spaces, including golf courses, and beautiful scenery, the East End is an exclusive and affluent neighbourhood. Homes are typically more expensive here, priced from $500,000 upwards to $1 million. The East End consists of areas like Bally Hally, Churchill Park, and Pleasantville.
North
Comprising neighbourhoods like Clovelly Trails, a residential area with a mix of single-family homes, high-end homes and a Golf course, Virginia Park, an area with many housing developments and recreational activities for youths, and Kenmount Terrace, one of St. John’s newer subdivision areas, the Northeast of the city has homes to suit everyone.
West
The city’s West End includes popular areas such as Cowan Heights, which is close to schools, shopping, and offers a mix of real estate from entry level to luxury homes. Southlands is also an up-and-coming area, particularly among young families as it offers convenient access to schools and Golf courses.
South
Neighbourhoods in the Southeast of St. John’s include Shea Heights, a small neighbourhood with a strong sense of community, both new and older homes, and stunning city views. In the Southwest, Goulds is a lovely neighbourhood due to its rural feel yet close proximity to the city and educational institutions.
Real Estate Market
Since 2010, St. John’s real estate market – particularly the sale of single-detached homes – has seen a steady decline due to the oil price decline and its impact on the economy.
However, the market hasn’t seen a rapid regression, and the effect on the real estate market hasn’t been as significant as in other oil-rich areas across the country.
While St. John’s enjoyed a very strong real estate market before the 2014 oil price decline, job losses and lack of certainty caused many buyers to leave the market and sell at a
lower price. Many others decided to delay listing, which has led to a decrease in activity and listings and lower housing demand. New home demand has slowed down rapidly, and
there is a higher than a usual number of unsold and vacant new-build units.
However, the negative economic impacts may favour first-time buyers, as housing is much more affordable and there is a higher inventory available. The average house price is
around $308,000, down 3% from the previous year.
Average Home Price: $149,900
Average Rent Price: $875.38
Average Condo Price: $282,678
Average Detached Home Price: $184,900
Home Style
Average Price
2 storey
$378,618
Bungalow
$311,971
Condo
$282,678
The following table, based on data taken from the Canadian Real Estate Association (CREA’s) National MLS® Report for April 2016 (the latest information available), demonstrates how homes in LSTAR’s jurisdiction continue to maintain their affordability compared to other major Newfoundland and Labrador and Canadian centres.
Education
There are around 36 primary, elementary, and secondary schools in St. John’s, and the English School District operates the K-12 public school
system in the region, and also offers a full French immersion program. The city has two private schools - St. Bonaventure's College and
Lakecrest Independent - and a Francophone public school. St. John’s is also home to the Memorial University of Newfoundland, which is one of
Canada’s best Universities especially for engineering, business, and medicine.