As the Nation’s Capital, Ottawa has always been a great city in which to buy real estate, whether for home ownership or investment purposes. Over the years, when the rest of the country was experiencing dramatic downturns in their real estate markets, Ottawa seemed to be insulated and the housing market remained steady.
This historical trend continues today, and presently Ottawa enjoys a diverse employment base that helps it to weather the economic storms. In contrast, the housing markets in other communities across Canada continue to be directly affected by local economic conditions and downturns in local industries.
The chart below has been compiled from past Ottawa Real Estate Board MLS Sales Data and is a great indicator of the stability of the Ottawa Real Estate Market.
For more information about housing price increases, contact one of our highly trained professional Royal LePage Team Realty Sales Representatives.