Cottage prices near Ottawa to jump significantly in 2022
Phil Soper President and CEO of Royal LePage, states in a recent press release that recreational properties will have double digit gains.
Prices in Ontario are expected to jump 13 per cent on average. Ontario median prices are $738,000. In 2021 Ontario prices went up 34.6 per cent. Waterfront properties 31.8 per cent. Details for Rideau Lakes, Peterborough, Kawarthas, Georgian Bay here. The press release and National details can be found here.
Real Estate Forecast 2022 – Why Ottawa Remains a Top Choice For Homeowners
Today I feature 3 articles on the Ottawa Real Estate Market. The first one is on CBC.ca, it relates the story of Kevin Shaw and his husband. The second, from ocanada.com is the recent experience of Dean Tester and his wife. The final article is from the Royal LePage teamrealty.ca site, it states why Ottawa remains a top choice for homeowners.
Home Sales Forecast to Ease but Remain Historically Strong in 2022-2023
On March 23, 2022 the Canadian Real Estate Assocation (CREA) provided an update to its forecast for 2022 and 2023. They address several factors affecting the real estate market:
- interest rates
- stress test
- housing policy changes
- the Russian invasion of Ukraine
Ottawa-Gatineau housing starts tick up in February: CMHC
Ottawa Business Journal reports on the housing starts in Ottawa and Gatineau. In February there was a 16 per cent increase in Gatineau as opposed to a 25 decrease. Details here.
Understanding Household Water Systems
Living Room by Realtor.ca proposes a blog post “Ebb and Flow: Understanding Household Water Systems:
- water supply systems;
- waste water systems;
- city water and sewer services, and;
- well and septic systems.
A couple of years ago at Doors Open Ottawa I had the opportunity of visiting the Lemieux Island Water Purification Plant. What a great visit! Below is a PDF with regards the Ottawa Drinking Water Quality should it be of interest.
[pdf-embedder url=”https://www.claudejobin.com/wp-content/uploads/2022/03/2020_ann_rep_lemieux_en.pdf”]
City of Ottawa to mandate short-term rental permits April 1
CityNews is reporting that effective April 1 the City of Ottawa will mandate short-term rentals. The following the list of requirements:
- Contact information of the property owner, holder or manager
- Proof the property the urban or rural village property is a principal address
- Proof of ownership of a secondary property
- Proof of insurance
- Registration on a short-term rental platform
- Floor plans of the residence, along with all the exits
- Approvals from any condominium corporation or property owner, should the permit applicant be renting the principal residence
- A list of the number of bedrooms to ensure the numbers of guests do not exceed capacity limits
- All the necessary emergency contact information, including 911
- Listing the city’s bylaws to customers such as noise, parking and property maintenance regulations
Bank of Canada Increases Interest Rate
CREA Cafe (Canadian Real Estate Association) has put together a blog post relating to the Bank of Canada’s increase of the interest rate. Click here for details.
Ottawa Real Estate Statistics
February 2022
Community Statistics
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