Homes Around DND HQ Increased 7.05% Last Year. More Growth is Expected as Another 5,000 Employees Are Expected at the West End Campus

The Department of National Defence's move to the West End of Ottawa hasn't been super smooth but already 3,500 employees work from 60 Moodie Drive. The National Defence has planned the move in three difference phases with the final phases expected to take place in March 2020.

What was once home to telecommunications giant Nortel Networks is now home to thousands of civilian and military personnel. Once all phases of the move will be completed in 2020 the DND HQ Campus will be have 8,500 employees. There is also talks about a second campus in Sherley's Bay for an DND operational headquarters with an expected completion date of 2029 that would have 4,500 civilian and military personnel. With all this job growth the West End of Ottawa's real estate market is seeing strong price increases.

2018 was a great year for Ottawa real estate as property prices saw a 2.4% increase in price. Some areas were in a sellers market and saw a higher price increase. With more and more people looking to work in proximity to home buyers have been flocking to the neighbourhoods surrounding the new DND Campus on Moodie Drive.

In fact, within a 10 km radius of the current West End DND HQ Campus, residential class properties have prices have risen 7.05% in 2018.

With home prices creeping upwards many are turning to more affordable properties like condos. This has also fueled growth in the condominium class where prices have risen 10.2%.

Some of this increase in price can be attributed to not only population and job growth but limited levels of inventory as well. A total of 3,759 residential and condominium class properties sold in 2018 compared to 3,775 in 2017. Properties are also selling faster than during the previous year. The average days on market for all properties in the 10 km radius was 51 in 2017 but has dropped by 30.7% to only 39 days in 2018.

This leaves West End home owners wanting to sell with a smile on their face and buyers wondering: "How high prices can these prices go?"

Some are hopeful that the Phase 2 of the Ottawa LRT Confedration Line will help alleviate some of the demand to live in the West End. The most Western station of the Phase 2 expansion of the LRT includes a station at Moodie Drive. Employees would be able to use public transit to get to work provided they live in proximity to other LRT stations. Stage 2 is set to start at the end of 2019 and be completed by 2023. It would bring 70% of Ottawa residents in a 5 km radius of rail.

My name is Roch St-Georges, I am a bilingual real estate broker in Ottawa. Those wishing to discuss a purchase or a sale or a home or condo in Ottawa can contact me at 613-889-7732 to discuss their real estate needs. If you are relocating to or from Ottawa and are looking for a Realtor®, I am on the Brookfield Global Relocation Sercvices (BGRS) list of approved Realtors®.