A new Royal LePage® report reveals an exciting trend: over 54% of Canadian renters are planning to transition from renting to owning a home within the next five years and one in three are aiming to make that leap within just two!

That’s not just a statistic—it’s a powerful signal that more people are ready to take a step into homeownership, including right here in Ottawa.

At Royal LePage® Team Realty, we’re excited to see this growing interest in homeownership and are here to help Ottawa renters make their dreams a reality. So, what’s holding some renters back? Well many are eager to transition from renting to owning, there are still a few barriers—such as affordability, mortgage qualifications, and economic uncertainty—that can seem daunting. But with the right guidance, homeownership is closer than ever, and we’re here to help you navigate it!

The latest Royal LePage® House Price Survey reveals that Ottawa’s real estate market held steady in Q2 2025 despite a slower-than-usual start. The aggregate price of a home in Ottawa increased 0.6% year-over-year reaching $782,100. Quarter-over-quarter, prices were flat, rising just 0.3%, a sign of market stability and national uncertainty.

Detached vs. Condo Market Trends

• Single-Family detached homes: Meridian price dipped 0.3% year-over-year to $893,700.
• Condominiums: Median price rose 0.8% to $407,500, showing stronger activity and buyer interest, especially among first-time buyers.

While the spring market started slower than expected, local experts are seeing renewed activity.

“As a result, inventory levels and days on the market increased over the last few months. Historically, we’ve seen that Ottawa buyers can be particularly sensitive to changes in government, especially when campaign messaging includes potential cuts to public sector jobs, which directly impacts the local workforce.”

However, Ralph is confident that the pause was temporary:

“Following the election, activity began to pick up. In the final weeks of the quarter, market conditions returned to more typical spring levels, with open houses drawing steady traffic and multiple-offer scenarios starting to re-emerge. This late surge helped the quarter close on a stronger footing.”

Outlook for the Remainder of 2025: Opportunity Rising

“We initially anticipated a strong start to the market in 2025, but recent global events have introduced a level of unpredictability. As a result, the delayed spring activity is expected to shift momentum into the summer, with more buyers gradually returning to the bargaining table,” said Ralph.

He also noted that condominiums are gaining traction especially among first-time buyers looking for affordability in a competitive market.

“This delayed spring activity is shifting momentum into the summer,” Ralph adds. “We could see a modest uptick in prices as demand builds heading into the fall.”

According to the Royal LePage® Market Forecast, Ottawa’s aggregate home price is projected to increase 4.0% in Q4 2025, year-over-year—a clear signal that buyers waiting for the “perfect moment” could soon face more competition and rising prices.

Why Now Might Be the Right Time to Plan (Not Wait)

Waiting for the “perfect” market conditions can mean missing out. As Royal LePage® CEO Phil Soper explains, real estate is a long-term game, and market timing rarely works in a buyer’s favour.

At Royal LePage® Team Realty, we encourage renters to take action rather than wait for the “perfect” moment.

Consider this: If home prices rise by just 5% over the next year, that $600,000 home will cost $ 630,000 and your down payment will increase as well. Acting early, with the right strategy, can save you thousands in the long run.

Ottawa’s Renters Are Dreaming Big

Despite economic challenges, Ottawa renters are optimistic and actively planning for a future with greater stability and equity. And they have good reason to be:

• Home sales are rising again (up 3.6% from April to May nationwide), signaling renewed confidence in the market.
• Interest rates are holding steady, and further cuts are possible—a hopeful sign for mortgage affordability.
• Ottawa remains more affordable than Toronto or Vancouver, offering an excellent value for buyers seeking space, community, and growth.

Yes, There Are Hurdles But They’re Surmountable

In Ottawa, renters face similar hurdles, but there’s good news: Ottawa homes for sale are more accessible than in larger cities like Toronto or Vancouver. Although affordability remains a concern in sought-after areas like Westboro, Kanata, and Barrhaven, Ottawa offers a variety of options within a more budget-friendly range.

For example, the median home price is over $600,000 in many communities but not to worry! There are still plenty of homes for sale in Ottawa under $600,000 and even homes for sale in Ottawa under $500,000 that offer great value for first-time buyers.

To give you a breakdown:

A 5% down payment on a $600,000 home = $30,000
A 20% down payment on a $600,000 home = $120,000

For renters paying an average of $2,000 per month for a 2-bedroom unit, saving for a down payment can seem overwhelming. But with strategic planning, Ottawa’s market is full of opportunities for those looking to buy.

Government incentives, smarter financing strategies, and early conversations with experts can make a huge difference.
Ottawa renters aren’t stuck—they’re strategizing.

Good News: There’s a Path Forward

If you’re renting in Ottawa, here are 6 smart positive steps you can take right now to move closer to homeownership:

1. Discover What You Can Afford

Choose our Home Value Calculator to find out your buying range. Even if you’re not ready today, this gives you a strong foundation to work from. Understanding your buying power is the first step toward homeownership. Discover affordable Ottawa homes for sale within your budget!

2. Explore MLS Listings Ottawa-Wide
Browse Homes for sale in Ottawa on the MLS to get a feel for what’s available in your price range. There are plenty of great homes for sale in Ottawa under $600,000 that are perfect for first-time buyers.

3. Get Pre-Qualified Early
Many renters are pre-qualified sooner than they expect. Speaking to an adviser early gives you time to improve your financial position and explore creative financing options. This can give you clarity and may even reveal strategies to boost your savings and credit score.

4. Consider a Starter Home or a Condo
Focus on starter homes or condos in growing communities like Riverside South, Orléans, or Nepean. These areas offer great value and can be perfect for those looking to build equity without overstretching their budget.

5. Take Advantage of First-Time Buyer Incentives
Programs like First-Time Home Buyer Incentive, GST/HST rebates, and the RRSP Home Buyer’s Plan, can help reduce upfront costs and make purchasing your first home more attainable.

6. Set Up a Personalized Planning Session
Whether you’re 6-months or 2 years away from buying, our team is here to help you create a plan. Contact us to schedule a no-pressure chat about your goals and options.

Inspired by Something More? Ottawa’s Luxury Market Awaits

If your dream home involves a little more luxury, now is also a great time to explore the Luxury Homes for Sale in Ottawa. You might be surprised at what’s possible with the right strategy.

A Brighter Future Starts with a Plan

Ottawa renters aren’t just waiting—they’re preparing. And with the right knowledge and guidance, the dream of homeownership becomes less of a wish and more of a well-earned milestone.

Let us help you take the first step.
Reach out today and let’s build a custom plan to make your homeownership goals a reality.