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Ottawa Development is On the Rise

Ottawa development newsRecently, the city’s planning department provided a report on demographic and economic changes in the city.

I think this information is very insightful and very valuable for anyone who is considering relocating here and wants to learn more about the area.

So today, I’m going to give you an overview of this recent data as a way to help prospective home buyers determine whether Ottawa is the place they really want to live.

How Ottawa Has Grown in the Last Year

Here’s a look at Ottawa’s growth and development in the last year, based on the most recent city report in Ottawa:

  • 943,260: Ottawa’s population by the end of 2013, which represents a growth of 0.9 per cent from the year before.
  • 392,700: The number of Ottawa households in 2013, which represents an increase of 1.3 per cent from 2012. Of total housing starts, 25.4 per cent were single-detached homes and 43.9 per cent were apartments.
  • $381,360: Average resale house price in the city of Ottawa by the end of 2013, which marks an increase of 1.4 per cent.
  • 6,284: Housing starts in Ottawa in 2013, which is up 9.7 per cent. Meanwhile, the greater Ottawa-Gatineau area had a 3.5 per cent decrease in housing starts, which was mostly attributed to the 33.3 per cent decrease in Gatineau.
  • 38.3%: Decrease in real estate investment in Ottawa, to $1.6 billion. Still, that comes after a 137 per cent increase in 2012.
  • 18.6%: Increase in residential building permits in 2013. Non-residential permits, however, decreased by 6.9 per cent.

Helping You Make Sense of the Ottawa Real Estate Market

Are you ready to start searching for your next dream Ottawa home? If so, then please contact me, Bobbie McGowan, and the rest of my Ottawa real estate team!

We would be happy to assist you by answering all of your lingering questions as well as telling you about available Ottawa home listings. We’ll also provide you with our valuable resources such as our moving tips and mortgage calculator.

Until next time,

Bobbie