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Bedford: A Beautiful and Booming Enclave of Halifax, Canada

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Halifax Enjoying one of the most beautiful environments in the Canadian capital. Located on the dramatic south coast of Nova Scotia, it boasts one of the world’s largest natural harbors and a well-preserved waterfront, along with stately buildings and rich history. With only 440,000 residents, Halifax offers a more relaxed lifestyle than the hyperkinetic Canadian cities of Montreal, Vancouver and Toronto.

Eleven miles northeast of downtown, Bedford passes through the lush landscape of parks and lakes from the top of the harbor. “It’s a high-end community, our Brentwood,” said Dennis McDonnell, an agent at Halifax’s Red Door Realty, referring to the wealthy Los Angeles entourage.

Peter Brouwer, owner of Halifax’s Team Brouwer / Royal LePage Atlantic agency, said a wave of new buyers is discovering Bedford as Halifax attracts wealthy immigrants from other parts of Canada and abroad. I am saying. Shore Drive along Bedford Basin is “one of the most expensive and popular streets in the state,” he said. “Bedford itself is boutique-like and has a unique personality and identity.”

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Halifax is booming.According to Statistics Canada 2021 censusThe population of Nova Scotia’s capital has increased by nearly 10% in just five years. This is a big leap.

“We suddenly became’Plan A’for people,” McDonnell said. “We were never popular, and now we are.”

Bedford is benefiting from the boom. Matt Honsberger, President of the Royal LePage Atlantic Agency in Halifax, said: “There was incredible growth and development. The market has exploded.”

Alexandra Valley, an agent at Halifax’s Engel & Volkers, said that in addition to the “rich and diverse” housing “from the 1930s to the present,” Bedford is Bedford Basin’s strategic at the northern end of the port of Halifax. I am enjoying a wonderful place. “You are in the sea, but you are protected,” she said. “Bedford is always a little warmer and less foggy than the South End.”

The popularity of Halifax represents a reversal of fate.Just six years ago, the local committee warning “It’s a net influx of people from the West and Ontario, and they’re bringing wealth,” Honsberger said, now that the “approaching demographic crisis” is accompanied by population growth and a decline in tax bases. rice field.

“Halifax is an old money property,” Brouwer said. “Bedford is new money.”

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boundary

According to McDonnell, the southern border of Bedford is Larry Utec Boulevard, a highway named after a Canadian professional soccer star. The Nova Scotia Highway 102 forms an informal border north and west of Bedford, “separating Bedford from the commuter town of Sackville,” McDonnell added. On the eastern side, Bedford ends in the Bedford Basin, the “innermost part of the Halifax Harbor,” she said.

Halifax Airport is about 13 miles northeast of Bedford. The scenic Cape Breton Island, Nova Scotia, is about 226 miles northeast. Charlottetown, the capital of the adjacent Prince Edward Island, is about 200 miles north.


Price range

The average home price across Nova Scotia was C $ 452,748 (US $ 346,945) in May. Nova Scotia Real Estate Agents Association— 21% year-on-year increase. In Halifax, average home prices in May were $ 567,671, down 5.4% from the previous May. But at Bedford, “the average was close to C $ 700,000,” McDonnell said. “Only old, small condo buyers pushed in for less than $ 400,000.”

Diverse housing stock means “house prices range from about $ 400,000 to $ 2 million and average condominium prices range from $ 300,000 to $ 400,000.” She added that the Waterview condo unit can get up to C $ 1 million.

Despite the sharp fall in Halifax, Bedford’s home prices have risen “significantly,” said Brouwer, who estimated that average home prices would approach C $ 850,000-950,000. “It’s not an entry-level area,” he said.

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The price of a stately home on Bedford’s Shore Drive that runs along Bedford Basin will rise significantly. “Home prices can reach $ 4 million, and some homes may be close to $ 8 million or $ 10 million,” said Honsberger of Royal LePage Atlantic. The land is also highly valued. 1/4 acre shore drive lot is now Listed 1.6 million Canadian dollars.

West Bedford, the center of most new construction, “has become the second luxury area,” Honsberger said. “There is a new subdivision where buyers are paying close to C $ 1 million. This is a lot for our region.”

But the manic market is starting to balance. Rising interest rates in Canada, coupled with “living costs,” have created a “rapid correction,” McDonnell said. “Things are becoming more and more market prices. People are waiting to see if prices go down. Inventories have actually increased this month.”

“It’s not a surprise to be flat,” Brouwer said, given the rise in rates. “But housing is still quite scarce. 10,000 people move to Halifax each year,” Honsberger agreed.


Housing stock

Bedford’s housing stock is “very diverse, including single-family and semi-detached homes, town homes, condominiums, and rental properties,” McDonnell said.

More established districts, such as Shore Drive and the central Old Bedford area, boast decades of architecture. “You can see everything from the salt box in the center hall plan to the occasional mid-century modern,” says Honsberger. “These neighborhood parcels aren’t big, but they’re bigger than the new parcels.”

Shoredrive was once the “cottage country” of Halifax, said Vallee of Engel & Volkers, but the small house is now endangered. “They are being purchased as demolition and people are building California-style homes with flat roofs.”

“There are a lot of bigger and more stately homes today that are considered mansions,” said Blower, around the upscale Bedford outposts of Paper Mill Lake, Eaglewood and Ridgedale. ..

West Bedford’s new subdivision is less diverse. Names like The Ravines and The Parks of West Bedford “look consistent,” said Mac Donell of Red Door Realty. A major change in Bedford is the construction of rental towers. “One of the big changes over the last five years has been the construction of many luxury rental properties with monthly rents ranging from C $ 2,000 to C $ 3,000,” said Honsberger. Soaring home prices and the influx of young professionals may explain the new popularity of rental properties. “We have a lot of remote technicians and Bedford is very upright,” McDonnell said.

Bedford has also seen a significant increase in condominium construction, Brouwer said. “We are working on about 20 condo projects,” he said. “It’s a shocking increase. Condos have historically fallen behind homes, but they are in demand and highly sought after.”

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What is unique

Bedford’s waterfront location, lake network, and abundant green space make it stand out in Halifax’s neighborhood, Brower said. “Dewolf Park faces the ocean. It’s the place where the community celebrates Bedford Day every July,” he said of the 10-day festival. Admiral Cove Park offers panoramic views of Halifax Harbor and is adjacent to Shore Drive and the historic Eaglewood district. “It feels like the countryside, but jumping out, you’re in the city,” he said. Tiny Fish Hatchery Park “is in the center of Bedford, but it feels like this private spot,” he added. Lakes in Bedford include the pristine Paper Mill Lake, Sundi Lake, Jack Lake, and Kearney Lake in the city of Halifax.

Bedford’s waterfront location, lake network, and abundant green space make it stand out in Halifax’s neighborhood.

Irwin Barrett / Design Photography / Getty Images

According to Ms. Vallee of Engel & Volkers, Bedford’s quality schools also stand out. “That’s why many people are attracted to the neighborhood,” she said. In addition to French elementary and high school, Bedford boasts a highly regarded private school, the Bedford Academy. Charles P. Allen High School, Bedford’s major high school, is highly regarded among public schools in Nova Scotia.

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Luxury amenities

Bedford, which was considered a suburb 20 years ago, is now “unique,” McDonnell said. “We have a lot of facilities. Good transit, great shopping, nice restaurants. You don’t have to go to the city.”

Bedford’s extensive recreational facilities include the Bedford Basin Yacht Club with its club and marina. Bank of Montreal Center, recreational sports facility with 5 hockey rinks. Sobay’s Atlantic Tennis Center. There are 3 courts for pickleball in 21 courts. According to Honda Berger, the Headstart Tennis Academy is a “well-maintained secret.”

A high-speed ferry from Bedford to downtown Halifax is expected to depart within 10 years. “It will be a game changer,” McDonnell said. “The Bedford Highway, a coastal road, is a nightmare that must be avoided.”

Bedford boasts fine food and dining options, including the popular Il Mercato Trattoria and the high-end Pete Fruity & Fine Food Market, but “living here is not a luxury amenity,” Vallee said. Said. “It’s about the atmosphere of the neighborhood. It’s safe. It’s multicultural. And it’s a great place to grow a family.”


People who live here

The “high level” of recent immigrants from the Middle East has changed Bedford, along with the previous wave of Chinese immigrants, Brouwer said. “I call Bedford the United Nations in Halifax,” Brouwer said. “This is a crucible that any group can participate in, and they are a major factor in the market, especially for new housing stocks,” he said, with domestic buyers also driving the market. Some have fled oversized home prices in Toronto, Alberta, or the west coast of Canada. Others are downsizers who cash their homes, buy cheaper ones in Halifax, and keep the difference in their pockets.

Bedford’s new section attracts “young professionals and immigrants,” Honsberger agreed. “Bedford is a moving neighborhood. It’s the place people go when they start a family.”

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Outlook

Immigrants will continue to stimulate demand for Bedford.

“Now that the pandemic is weakening, [demand has]It has recovered again, “Honsberger said. “I think we’ll see a 15% -18% increase by the end of the year. The competition for the most desirable housing is still going on, but now with more inventories, the market isn’t as crazy as it used to be. . ”

Brouwer agreed. “The continued influx of people is putting more pressure on the Halifax housing market,” he said. Despite the non-stop construction, “we still have a housing shortage,” he said. “Nova Scotia looks even more attractive,” he added, as Ontario and Quebec have recently imposed additional taxes on foreign buyers.

According to MacDonell, “We’re still in the seller’s market, but that’s just. The market has skyrocketed in the last two years, but things can’t go up forever. The bidding war is still going on. But that’s also starting to slow down. People couldn’t get into our market. Now they can get in more. “

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