We live on the Prairies. The land is generally flat. As Prairie Folk, we refer to as incline in a Winnipeg street as "the hill".
Winnipeg is not geographically bound by mountains or an ocean. Land surrounds us, delineated by rivers and streams, but other than that our horizon line is distant, a straight line to a vanishing point.
So how can Winnipeg have a land shortage? Why don't we have Texas-sized lots?
A recent study shows that Winnipeg is expected to grow in population by the equivalent of the City of Regina over the course of the next few decades. Between 2006 and 2011, Winnipeg's population grew by 37,878, according to City of Winnipeg sources. Clearly we need to effectively and sustainably accommodate such growth and the ongoing economic prosperity it will bring.
Developing land, whether it be downtown infill or suburban growth, is a longterm and expensive endeavour. The development process moves excruciatingly slowly.
Our infrastructure costs in Winnipeg are very costly, largely due to our extremes in climate and soil conditions.
And demand for housing will soon exceed supply. As a result, we will see an increase in multi-family and attatched housing such as townhome construction. Lot sizes for single family homes will shrink. In all probability, land prices will continue to rise. The consumer will pay more for less.
There may never be a better time to build a new home than now.