Over the past 25 years, Winnipeg has seen many different changes, from its growing population, to the return of the Winnipeg Jets, to the COVID-19 pandemic transforming the way Winnipeggers live.
One other aspect of society that has experienced a tremendous change is the cost of housing in the city, which has continued to grow over the last quarter century.
According to the Winnipeg Regional Real Estate Board (WRREB), in 1996 the average sales price for a single-family home was $90,046.
Twenty-five years later, in 2021, the average price was $379,844 – an increase of 422 per cent.
In terms of specific neighbourhoods, Peter Squire, vice-president of external relations and market intelligence for the WRREB, explained that the highest percentage price increases are always going to be in MLS areas with low baseline average sales prices.
The following is a list of how the average price of a single-family detached home changed in specific neighbourhoods from 1996 to 2021, according to the WRREB:
- North Kildonan went from $114,718 in 1996 to $418,034 in 2021. An increase of 364 per cent.
- Whyte Ridge went from $141,475 in 1996 to $524,822 in 2021. An increase of 371 per cent.
- Westwood went from $104,340 in 1996 to $397,537 in 2021. An increase of 381 per cent.
- River Park South went from $112,027 in 1996 to $453,721 in 2021. An increase of 405 per cent.
- North River Heights went from $127,949 in 1996 to $520,255 in 2021. An increase of 407 per cent.
- Richmond West went from $123,613 in 1996 to $509,236 in 2021. An increase of 412 per cent.
- Tuxedo went from $251,821 in 1996 to $1,053,839 in 2021. An increase of 418 per cent.
- Amber Trails went from $123,087 in 1996 to $522,629 in 2021. An increase of 425 per cent.
- Garden City went from $86,085 in 1996 to $371,977 in 2021. An increase of 432 per cent.
- Windsor Park went from $80,742 in 1996 to $356,963 in 2021. An increase of 442 per cent.
- West St. Paul went from $128,398 in 1996 to $609,747 in 2021. An increase of 475 per cent.
- Norwood Flats went from $71,932 in 1996 to $344,385 in 2021. An increase of 479 per cent.
- Transcona went from $93,062 in 1996 to $437,035 in 2021. An increase of 497 per cent.
- Canterbury Park went from $72,836 in 1996 to $372,341 in 2021. An increase of 512 per cent.
- South Headingley went from $137,606 in 1996 to $862,810 in 2021. An increase of 627 per cent.
- The West End (east of Arlington) went from $27,991 in 1996 to $199,084 in 2021. An increase of 711 per cent.
According to Squire, one of the reasons the easternmost area of the West End, which includes the Spence neighbourhood and the area around the University of Winnipeg, saw such a drastic change has to do with groups, such as the Housing Opportunity Partnership, the Spence Neighbourhood Association and the New Life Ministries, helping to revitalize this area.