Supply glut is gone and builders are ready to respond to pent-up demand in 2019, realtors and developers say
The Ottawa side of the river saw the steepest decline, with a 53-per-cent drop in new multi-residential properties driving the downturn
Despite a flurry of building on the Gatineau side of the river, a lag in new projects in Ottawa led to a slowdown in November housing starts
The average rent in Ottawa jumped 5.6 per cent from a year earlier to $1,174, with two-bedroom units costing tenants 5.8 per cent more at an average of $1,301
Ottawa’s housing market is staving off the vulnerability plaguing some of Canada’s other large municipalities, according to a CMHC report
But purchasers remain confident they'll be able to make monthly payments.
But some question whether market can absorb flood of new units
Perceptions run counter to Statistics Canada data
'The condo market is well-served … but there’s undersupply of every other type of home.'
CMHC numbers suggest the upward trend that began in 2017 is continuing in the early part of this year.