A total of 1,766 homes sold for at least $1 million in Ottawa in 2021, more than double the previous year’s tally of 750 such “luxury” transactions, the firm says.
Builders started work on 393 new dwellings in the region last month, a steep drop from the 1,074 starts recorded in December 2020.
Canadian Real Estate Association said Monday that about 667,000 residential properties changed hands in 2021, about 30 per cent more than the 10-year average.
Median price of a single-family detached home in the capital rose 20 per cent year-over-year to $876,600 in the quarter, while condo prices increased 11.5 per cent to $417,700.
SerCo Realty Group wants to build a highrise with 160 rental suites at 1400 Bank St., just south of the Billings Bridge Shopping Centre, on land currently occupied by a two-unit retail property.
Mall owner wants to construct a mixed-use tower with 280 rental apartments and ground-floor retail space on land currently occupied by a heritage building.
The average residential-class home sold for $716,992 last month, up from just over $600,000 a year earlier, the Ottawa Real Estate Board said Friday.
Firm predicts the city’s housing inventory will grow slightly in the year ahead but says “low levels are expected to remain a concern.”
ClubLink says course is no longer financially viable and wants to partner with Minto Communities and Richcraft Homes to build 1,480 homes on the 71-hectare site.
The Ottawa-based real estate investment trust said its funds from operations – a key cash-flow metric – rose 12.3 per cent in the third quarter compared with a year earlier.