Winnipeg Housing Market Forecast 2025

As we just entered 2025, the Winnipeg real estate market has taken a turn that not many expected. After rising mortgage rates in 2023 and early 2024, rates have sharply declined to the end of the year. As of January 2025, The current interest rate is 3.25%, which is expected to drop even more as we go into the year.

The Canadian Housing Market 2025

We can expect slow, steady growth in 2025; however, as rates continue to drop, it will lead to a hot spring market for Winnipeg. There have been a lot of potential buyers on the sidelines as rates slowly crept up in the past year. For the last several months, rates have dropped. If rates continue to drop in the new year, the market may be flooded with home buyers and limited home-buying options. We could see a lot of bidding wars!

Although the real estate market often slows down as we enter winter, we can expect steady growth going into 2025. Winnipeg had a busier-than-normal December, while major cities like Toronto were stagnant. Winnipeg's prices still have room to grow, while some major cities may be hitting their limits.

Winnipeg Housing Market

As Winnipeg sees increased immigration and steady job growth, the Winnipeg market continues to grow. Just like last year, other, more expensive provinces are looking at Winnipeg's less expensive housing market. I often get phone calls and emails from interested homebuyers from BC and Ontario.

Interest Rates & Market Activity

Over the past few years, interest rates have been on a roller coaster ride, leaving homebuyers hesitant about where rates will go. Over the last few months, rates have been dropping and are stabilizing much lower than expected. Canada has finally slowed inflation, which may lead to better borrowing rates, making it a great time to buy. With Canada's population continuing to rise and a lack of housing, we can expect housing prices to rise for the short and long term.

Winnipeg Neighbourhood Hotspots

Sage Creek, Bonavista, River Heights, and Osborne Village are expected to remain popular. Bridgwater and its whole mega neighbourhood will also remain in demand. We're seeing a lot of growth on the city's north side, both on the edge of the city limits and West St Paul. West St Paul has a few developments where houses continue growing quickly.

Rental Market Prospects

As home prices continue to rise, more and more are heading towards renting. The problem with renting is rental prices continue to increase, making it either a) unaffordable to some or b) a more logical solution to buy instead of rent.

2024 Winnipeg Housing Market Questions

Will the housing market crash in Winnipeg in 2025?

There is a very low chance of the housing market crashing in Winnipeg or anywhere in Canada in 2025. Some markets in the big cities like Toronto and Vancouver could slow down significantly, but Winnipeg is still playing catch up. We should see our prices continue to rise over the year.

What are the housing market predictions for the next five years in Canada?

Immigration has slowed down a bit going into 2025, but there is still a very high demand for housing all over Canada. Until there is enough housing, we shall see demand continue to rise.

Should I buy a house in 2025?

2025 is a great time to buy a house, especially in Winnipeg. Our prices are much lower than the national average, so it is still a great time to buy in Winnipeg. One of the top goals for people in Canada is to own a home, and living in Winnipeg gives us this opportunity.

What's most popular neighbourhood in Winnipeg for 2025?

Like 2024, Sage Creek and Bonavista remain two of the top neighbourhoods in demand as they slowly fill up. Once these two areas reach their maximum occupancy, we'll see bigger growth in other areas around Winnipeg. There is still a lot of room in Winnipeg's east and north sides, so we should see housing continue in those areas.