Ottawa Market Still Going Strong the West and South is leading the Way

Ottawa's real estate market is seeing good growth this summer according to recent Ottawa Real Estate Board's news release. The neighbourhoods South and West of Ottawa have seen the biggest amount of activity. Buyers tend to favour less expensive neighbourhoods of the City compared to the hot and more central neighbourhoods such as Westboro and New Edinburgh and the stretch along Carling up to the new DND Campus.

The benchmark price for single family homes rose to $428,800 in July which is an increase of 8 percent year over year. The area of Hintonburg and West Centre Town have seen a nice 12.1% increase while Rockcliffe Park has seen a mere 1.6% increase.

Fastest growth has been seen in West end neighbourhoods such as Barrhaven, Stittsville and Kanata. No surprise here as property prices are heating up in Ottawa and buyers are hitting up the suburbs to buy. The opening of the new National Defence headquarters at the old Nortel Campus and the strong growth of our IT sector are also reasons for this push to the West and South.

If you are looking to make Ottawa your home or if you are looking to invest in our beautiful city please call Roch St-Georges, broker with EXIT Realty Matrix at 613-889-7732.