On a seasonally adjusted basis, the association says sales in July fell 5.3 per cent compared with June. The actual number of sales last month was 37,975, down 29 per cent compared with July last…
Immigration-fuelled population growth and rising interest rates that have driven up the cost of buying a home helped boost Minto Apartment REIT’s bottom line in the second quarter.
Sales worth $1 million or more now account for nearly one in five Ottawa residential transactions – up from less than five per cent just two years ago, Engel & Volkers says.
While construction slowed down on the Gatineau side of the Ottawa River, with the number of new starts falling to 132 from 151 the previous June, builders in Ottawa picked up the pace.
The association revealed Friday that June home sales amounted to 48,176, a 24 per cent drop from 63,280 during the same month last year.
Federal housing agency says growth was driven by increases in both the value and volume of uninsured mortgages for property buying and refinancings.
Achieving housing affordability for everyone in Canada will require developers to become more productive and make full use of land holdings to build more housing, CMHC says.
Realtors and lawyers say they have noticed buyers looking at what options they have to get out of a purchase because conditions have shifted dramatically from the previous highs and frenzied pace.
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.
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.