A new report by the Canadian Association of Accredited Mortgage Professionals stated that many Canadians are now increasingly “conservative in their mortgage choices” leading to less loan defaults. The report also stated that of the people surveyed, over 40,000 mortgages (which totalled $10 billion) last year, 86 per cent of those loans were fixed-rate mortgages, […]
According to a survey released last month, the city of Vancouver is among the most unaffordable, or expensive, housing markets in the world. Montreal and Toronto are also up there, not trailing far behind Vancouver. Ottawa, however, has been able to maintain a “moderately affordable” market in comparison. The research, which was done in the […]
Expanding on an idea born in New York City 20 years ago, Ottawa and other cities across North America are making an effort to provide housing to those less fortunate or in difficult financial predicaments. The Canadian Mental Health Association (CMHA) owns 32 condos all over the city which it rents to people with severe […]
This time last year, Ottawa was unsure of where the housing market was going to go, up or down. However, the affordable mortgage rates and increased consumer confidence catapulted the nation’s capital in the best year yet. The 2009 housing industry broke records of all kinds. Increasing 7.4 per cent from 2008, Ottawa-area real estate […]
Ottawa, and Canada in general, have been enjoying some really fantastic months of increased home sales and also a rise in home prices. It seems like the Canadian economy is not only enjoying a recovery from the small slump last year, but also a period of growth. However, industry experts are not so keen to […]
While Ottawa, in general, has been consumed by the recent condo fervor that has taken over the city and the area from Rideau Street to Bank Street and over to Richmond Road, higher prices residences are not selling as fast. Penthouses and other condominiums prices over $750,000 are moving at a much slower pace than […]
Housing starts in the nation’s capital have increased in leaps and bounds within the last 6 months. New construction activity has been popping up everywhere, and the numbers don’t seem to be slowing down. The Canada Mortgage and Housing Corporation (CMHC) reported that this November was the first time that housing starts showed a significant […]
Some 42 new homes will be constructed for disadvantaged and homeless women starting this spring. The new affordable units will go up near Somerset Street and Booth Street. The housing complex, which is being funded with a $6 million grant, will be located at 314 Booth Street. It is being sponsored by community organization Cornerstone/Le […]
Although there are those industry experts that warn against consumer spending and predict that the recession is not quite over yet, the housing market seems to be paying no attention. The Canadian Real Estate Association (CREA) announced that home resales in Canada soared 73 per cent last month from last year; showing the resiliency of […]
Much in line with the Claridge Plaza condos, The Wellington at Island Park is yet another massively popular condo building that has emerged in Ottawa’s super cool Wellington Village neighbourhood. The condo units went on sale sometime last month around 6pm, and the 250-person line wrapped around the block. Some were there to put deposits […]
