Are you prepared for a strong rental market?

We hope you all are staying warm with the approaching winter season just around the corner. While the Ottawa Real Estate market, much like the weather, is also cooling significantly, it might be an important time for you to weigh your real estate opportunities and options. 
 

The Canadian Housing Market Outlook Fall 2022 reports that approximately 29% of Canadians are not looking to purchase a home anytime soon due to surging interest rates and economic uncertainty. Despite interest rates expected to even out or decline in the coming months, first time homebuyers are discouraged – housing prices are falling, but affordability still remains an issue with living costs continuing to climb. 
 

As we slide into 2023, potential buyers will remain in the rental market, and current owners might sell to return to it. While condo sales are reported to be down 44% compared to this time last year, their share of the total market has remained steady, ready to accommodate a surge of interest.
 

Condos and long term rental properties are looking to be hot commodity in the upcoming year. If you are interested in what this could potentially mean for your investment portfolio, feel free to connect with us and we would be happy to answer any of your questions or concerns!

Average rent in Canada up nearly 12% year-over-year

The rental market keeps getting hotter with each interest rate increase, coupled with a record high increase in the population. The need to ramp up rental supply has never been greater.

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This Month's Question:

Which river offers the dream waterfront property on our listing at 1224 Upper Scotch Line Road?

Congratulations to: 

Chris B., Byron K., Bassem R., Chantal W., and Melanie D., who won last month’s trivia!