Ottawa home sales jumped 8.9 per cent in April compared with the same month last year as “mutual confidence among both buyers and sellers” gave the market a lift, the Ottawa Real Estate Board says.
The head of Ottawa-based Creative Dev Ventures says communities in the area must be willing to cooperate and be creative to facilitate more housing and development options.
The head of a Crown corporation that buys and develops federal properties says he’s hoping to speed up projects such as converting empty government office buildings into apartments in a bid to boost Ottawa’s housing stock.
In its revised application filed with the city, Devmont says it is scaling back the height of the main tower in its proposal for 6310 Hazeldean Rd., across the street from Stittsville Corners Shopping Plaza, and is readjusting the size of other parts of the development to maintain the same number of units.
Solving a longstanding construction worker shortage will be key to boosting housing supply, experts say, as Canada's national housing agency continues to forecast housing start levels that fall short of growing demand.
In a planning application filed with the City of Ottawa, Gatineau-based Brigil says the proposed development just northwest of the Marshes Golf Club on March Road would include five separate zones of residential development for a total of 1,908 units in buildings as tall as 15 storeys.
After five straight holds of the Bank of Canada's key interest rate that followed its hiking cycle of more than a year, economists say a rebound awaits the national housing market — but don't expect a big surge just yet.
OREB said 1,165 homes changed hands last month. A total of 2,678 homes were sold in Ottawa through the first three months of 2024, a 13.1 per cent increase from the previous year.