For years Ottawa has supported one of the country’s most stable markets for buying and selling homes. The benchmark price for a single-family home in December was $373,200 according to the Ottawa Real Estate Board — up just 9.4 per cent in five years. This is basically in line with inflation. While this is bad news for homeowners who have missed out on the sharp price gains reported in Toronto (up 68 per cent over five years) and Vancouver (up 60 per cent), it’s great news fo
Ottawa City Council has made its final choice for the new central library's location, approving the site at LeBreton flats, with one dissenting vote and one abstaining. Wednesday’s decision will mean city staff will begin the process of selling off the current branch of the library, at Laurier and Metcalfe. Money from the sale will help fund the $168-million project. Coun. Tim Tierney, chair of the library board, ended the meeting on a victorious note. “After 20 years of dith
Home sales in the Ottawa market were up 11.5 per cent in January compared to the same month of 2016.
The 667 residential properties sold by members of the Ottawa Real Estate Board, also surpasses the 5-year average for the month (614) and prices also continued to rise.
“The year is off to a great start, with sales up over this time last year, and well above the five-year average,” remarks Rick Eisert, President of the Ottawa Real Estate Board. “Residential-class resales s
For the wealthy, and those who aspire to be, investing in real estate can reduce risk and volatility in a portfolio. Those with the money have myriad ways to play real estate. Some are easy, some are challenging. Here are a few, and their possible risks. Individual commercial properties One of the most basic ways to invest in real estate is to buy a small commercial building. Some business owners and professionals prefer to own their work space and rent out an extra office or
Ottawa’s real estate market set another record in December as the average resale price surpassed $420,000 for the first time, according to realtor statistics. The previous record was $411,791, set in May 2015, according to OBJ records. The Ottawa Real Estate Board, which released its December statistics Thursday, attributed the increase to a higher concentration of homes sold for more than $500,000. Before it was even over, 2016 was guaranteed to be a record-setting year for
Some business owners are pushing back against a proposal to significantly redesign Elgin Street by lowering the speed limit and removing parking, among other measures. Since last June, the city has been mulling a redesign of Elgin St. and its southern continuation, Hawthorne Ave, with more benches and trees. This week, the city proposed widening sidewalks by halving the 122 parking spots between Lisgar and Isabella streets. Strolling Elgin St. with her baby in tow, local resi