Residential

Ottawa-based REIT's overall revenue grew 8.4 per cent year-over-year to $32.5 million as the occupancy rate of its unfurnished suites ticked up to 94.2 per cent from 91.1 per cent in the same period.

A total of 1,889 residential properties changed hands in April, the Ottawa Real Estate Board says, a 21 per cent decline from a year earlier and just above the five-year average of 1,849.

Builders began work on more than 10,000 new housing units in the capital last year – but that flurry of new construction still wasn’t enough to keep up with city's population growth, agency says.

Cutsey, InterRent's president since 2015, is taking over as chief executive from Mike McGahan, who’s stepping aside after 12 years at the helm.

Rising interest rates and job uncertainty will combine to cool down Ottawa’s red-hot home resale market a few degrees in 2022 – but not enough to put the brakes on price hikes, agency says.

Firm is now predicting the aggregate price of a home in Ottawa will jump 13 per cent in the fourth quarter of 2022 compared with a year earlier, up from its earlier forecast of nine per cent.

There were 521 new builds launched on the Quebec side of the river last month, up from 182 a year ago, CMHC said Tuesday.

To say the past 24 months weren’t kind to companies like Minto that rent apartments in urban cores would be an understatement – but Michael Waters says that's all about to change.

Residential-class properties changed hands for an average of $853,615 in March, up 13 per cent from the same month in 2021, real estate board says, even as sales fell compared with a year earlier.

Ottawa-based firm is lending its sister company, Minto Properties, more than $50 million to invest in a joint venture that will see B.C. mall converted into mixed-use multi-residential property.