I’m writing this article as part of a bigger picture market update for the August 2024 edition of my newsletter, Ottawa Real Estate Monthly. Housing affordability is the topic of the times in Canada. Many people point to increasing demand due to population growth primarily driven by high levels of temporary and permanent newcomers to Canada, and the perception there …
Is there a condo crisis in Ottawa? The condominium apartment markets in Toronto and Vancouver have been playgrounds for foreign investment, domestic speculation, and retirement savings plan components for many years. Post-pandemic in particular, stories of decline have been swelling up and some say there is now an urban condominium crisis in Canada that is intertwined with pervasive concerns over …
We’ve been on a bit of a roller coaster ride in Ottawa real estate over the past 4 years, primarily driven by interest rate policy. Everyone wonders when the market will get back to “normal”. The question for this video, (pertinent in July, 2024)… ARE WE THERE YET?
Ever wonder whether neighbourhood A is more or less expensive than neighbourhood B? Or how about which areas are trending downward or upward? This ranking of Ottawa & Eastern Ontario communities is a great place to start, and I think it’s the only place you’ll find a simple leaderboard-style ranking with multi-year price ranking trends at a glance. In the …
Examining the Bank of Canada’s Interest Rate Policy on Real Estate We all know that lower interest rates can contribute to increased demand in the housing market. In this article I’ll look at how the Bank of Canada inflated house prices during the pandemic, from March 2020 through March 2022. When governments announced shutdown measures to start dealing with the …
Ottawa Real Estate Market Starts to Turn The Ottawa real estate market always cycles and while COVID disrupted the seasonal cycle quite dramatically, the fundamental forces driving the intense seller’s market are now officially on a three-month trend in the opposite direction. In this article we will look at the key statistics illustrating the beginning of the next phase in …
What’s up with Ottawa house prices in early 2021? In this video I talk about the three main reasons prices are spiking even above the already meteoric increases from 2020. The number 1 reason turns out to be pretty simply to understand, but maybe not so easy to figure out why it’s happening. Theories and conspiracies and downright guesses about …
The February edition of my newsletter (Ottawa Real Estate Monthly) features Ottawa House Prices by Neighbourhood – it’s a tradition I started a few years ago. I take all of the Ottawa Real Estate Board’s neighbourhood sales and price statistics and rank them. In previous years, I shared the top and bottom 20 neighbourhoods based on percentage change in number …
A CTV News piece about the Hottest Ottawa Neighbourhoods and the Ottawa real estate market in July 2020 came to my attention this week. A local Realtor provided data and insights into prevailing conditions that continue to favour sellers. Here’s a link to the piece: CTV News Article & Video Reading through the article I could not help but cringe …
I debated the headline for this article. The downturn in sales resulting from people’s wise decision to heed Government direction to stay at home as much as possible resulted in unprecedented decline in home sales in April. Just looking at the graphs, “slams” is an accurate description of the impact. I hesitated to use this description not because it doesn’t …