Residential

Members of the Ottawa Real Estate Board sold 1,194 residential properties in March, a 40 per cent drop from a year earlier and well below the five-year average of 1,698 sales for the month.

Ottawa firm purchased share of Brampton development in a joint venture with Toronto’s Crestpoint Real Estate Investments and New Brunswick-based Vestcor.

Ottawa-Gatineau’s annual pace of housing starts jumped a whopping 725 per cent in February, the Canada Mortgage...

The association says February sales were comparable to what was recorded during the same month in 2018 and 2019, before the COVID-19 pandemic.

In financial filings this week, InterRent REIT and Minto Apartment REIT both reported big jumps in revenues compared with a year earlier – although headwinds such as rising interest rates have boosted the cost of financing their holdings and eaten into their bottom lines.

Ottawa’s housing market showed signs of balancing out in February and could even swing back to a seller’s market if current trends continue.

Constructed in 2021, Eagle Pointe is a “high-quality asset” that fits the company’s long-term strategy to upgrade its holdings by selling older buildings and acquiring new builds, CAPREIT president and CEO Mark Kenney told OBJ on Tuesday.

Local property owners with residential rental properties say they are relieved that legislation that would have required them to purchase power generators has failed in the provincial legislature.

The drop came as January sales also fell on a month-over-month basis as they dropped three per cent compared with December.