Home Buying

Report Indicates that Ottawa Housing Starts Are Stable

Home Buying 13This is good news for anyone who is watching the Ottawa housing market closely: Evidently, Ottawa housing starts are stable.

This is just the latest sign that the housing market here in Ottawa really is recovering.

Continue reading to learn more about this latest trend.

What You Should Know About Ottawa Housing Starts

According to the recent article I was reading, the Canada Mortgage and Housing Corporation recently looked at housing starts data in Ottawa during the month of December.

Here’s what they found:

  • There were 6,246 housing starts in December,, an increase of 36 from November.
  • Although overall starts were down in 2014, single-detached construction was almost on par with 2013.
  • Meanwhile, the comeback for row construction that started in the middle of 2013 is continuing.
  • Kanata had the most starts in December with 26 per cent.
  • Meanwhile, Nepean – both inside and outside the Greenbelt – came in second, followed by Gloucester and Cumberland, which were tied for third.
  • Across the country, housing starts decreased in December, however.
  • The report noted that the equivalent of 180,560 units were started on a seasonally adjusted basis in December, down from 193,199 in November.
  • What’s more, the number of multiple-unit starts in urban areas decreased to 103,054 units in December from 110,766 in November.
  • There was also a decrease in urban single-family house construction, which dropped to 59,861 units from 62,861.
  • The six-month trend in December was 192,047 units, which was down from 194,807 in November

How Can We Help With Your Ottawa Real Estate Needs?

If you would like to discuss these recent market trends further in order to determine how they may impact you as a buyer or seller, please contact us, Geoff & Bobbie McGowan, today.

We would love to explain these numbers to you and help you determine the best real estate strategy for you and your family from there.

Until next time,

Bobbie