The 27th annual Ottawa Real Estate Forum will continue its tradition of offering valuable insights on the current market trends, problems, opportunities, strategies, and solutions in Canada’s National Capital Region. Since the early nineties, the realtor community in the region has consistently received top awards for its contribution to the Canadian marketplace. This year, the forum will once again take the time to celebrate the contributions realtors have made to the country’s real estate market, while also highlighting areas that need improvement in order to sustain the region’s strong economy. Whether you are planning on relocating to Ottawa or just looking for information on real estate in the area, check out https://guglu.ca.
Planning on relocating to Ottawa? Attend this free conference and learn about the benefits of choosing to call Ottawa your new home. Attendees can expect a wide range of interesting workshops and discussions on everything from house planning and design to finding your dream home in the National Capital Region (NCR). At the end of the day, expect to meet some very useful people. Who knows, they may be able to hook you up with the perfect realtor for your new home purchase! You just never know.
Curious about how the state of the real estate market in Ottawa compares to other cities around the country? Join the experts as they discuss the latest trends and indicators that are used by the industry. This June, experts are hoping to see continued increases in unit sales and new homes in the city of ottawa. According to many industry observers, it is looking like ottawa may exceed expectations and see a rise of at least five percent in home sales over the course of the month of June. If you’re thinking about investing in a piece of property in the Ottawa area, you have a lot to consider. Are there certain things you should consider when making a choice?
Surprisingly, when compared to other comparable cities in Canada, there was actually not a notable drop in the average prices of detached residential and business properties in the city of ottawa. Even in areas that saw a marked decrease in prices, the number of new listings decreased by only one percent, from twenty-three to twenty-two per cent. While this might seem like good news, experts have warned that residential sales will probably experience a slight increase, but the increase will be much smaller than what the industry experienced during the fall of the economy in September, when a seven per cent decline was recorded. With this said, experts believe that prices in the september period will likely experience a slight increase, but remain steady or decrease slightly from current levels.
Surprisingly, despite the fact that the national housing picture faced a significant decline during the fall of the economy, there were some notable exceptions to this overall trend. In the riding area of Ottawa-ictions, for instance, detached residential properties saw increases in both the average prices and the number of new listings. Between September and November, the city saw an average price decrease of three per cent, or one hundred and seventy-two homes. This is quite small compared to areas across the country, where decreases of between twelve and thirty per cent were recorded. However, while this may seem to indicate that there are not enough properties for sale in the Ottawa area, experts have explained that this drop was temporary. When winter finally arrives and the weather turns cold, the rush to buy comes as real estate investors always do.
During the six month period of january, saw an increase of fifteen per cent in the average price of detached homes for sale in the riding area of ottawa. While this amount is a bit lower than what one would expect, it still represents a significant improvement from the month before. During the six months of January, homes sold faster than ever before in the history of Ontario, according to Statistics Canada. This is the first time that home sales reached double digit numbers since July of the previous year.
The story continues with residential sales in March and April reaching their highest point in a year-over-a-year period. While the end of April brought with it a record number of residential units for sale in the Ottawa region, the beginning of May brought with it another interesting statistic. There was an increase of twenty-two per cent in the number of foreign investors that invested in real estate in Ottawa during May. While this statistic might be hard to believe given that Canadian investors traditionally only form a relatively small percentage of the foreign market, the fact that there was an increase may be of interest to potential buyers. As mentioned earlier, a twenty-two per cent increase is quite significant in a market where people commonly invest thirty-five per cent or less.
The story continues with residential properties increasing by four and three per cent in month-over-month basis from the month of August to the month of September. While it is difficult to believe that thirty-five per cent growth can be attributed to investor migration, the story is making its way across the Globe and could result in significant residential property investment opportunities over the next five years. For those investors already in the market or looking to enter the market, this increase could provide a welcome push towards investing in Ottawa real estate. The real estate market has already begun to take off in the past year and looks set to continue to do so in the upcoming years.