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Resale Housing Off to a Typical Start

Members of the Ottawa Real Estate Board sold 684 residential properties in January through the Board’s Multiple Listing Service system compared with 677 in January 2011, an increase of one per cent. The five-year average for January sales is 652. Of those sales, 138 were in the condominium property class, while 546 were in the…

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Low interest rates may shield housing market from bubble

Rock-bottom mortgage rates have been the fuel behind Canada’s house-price boom. Now, they may also be the shield keeping that boom from becoming a bubble. Bank of Montreal chief economist Sherry Cooper argues that despite the Bank of Canada’s repeated warnings about the alarming deterioration in the country’s household debt levels, driven in no small…

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Ottawa unemployment steady at 6.3 per cent

By Vito Pilieci, The Ottawa Citizen January 6, 2012 Ottawa’s unemployment rate held steady in December, ending three months of increases, according to Statistics Canada. The national statistics watchdog said the creation of 5,400 new jobs in the region helped to keep the unemployment rate at 6.3 per cent during the month. More than 697,800…

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Helen Morris: Energy efficiency worth the effort

As temperatures head down to their seasonal norm, we’re turning up the heat at home. That means higher bills, but having an energy-efficient home can keep heating costs under control. EnerQuality designs and operates five “green” building standards for the construction industry in Ontario. “These focus on the design and construction of the home,” says…

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2011 a typical year for home sales in Ottawa

  Members of the Ottawa Real Estate Board sold 699 residential properties in December through the Board’s Multiple Listing Service® system compared with 618 in December 2010, an increase of 13.1 per cent. The five-year average for December sales is 611. The total number of homes sold through the Board’s MLS® system in 2011 was…

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Low Rates Improve Home and Condo Affordability

For an explanation, Canadians can look to the European sovereign-debt crisis, according to the latest Housing Trends and Affordability report by RBC Economics.  The report found the average housing cost of a standard two-storey home was 48.8% of the median pre-tax income, down 0.6% from the previous quarter. “It appears that developments related to the…

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Ottawa Posts Record Home Sales in November

Members of the Ottawa Real Estate Board sold 1,020 residential properties in November through the Board’s Multiple Listing Service® system compared with 940 in November 2010, an increase of 8.5 per cent. The five-year average for November sales is 881. Of those 1,020 sales, 244 were in the condominium property class, while 776 were in…

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From Ottawa – Interest Rates Low through 2013: Carney

He gave no indication, however, whether his next move might be to actually reduce the trendsetting overnight rate from the current one per cent, as at least two major economists have urged. In a speech to a business audience in Montreal, the central banker made clear that he sees recent indicators that the Canadian economy…

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Condos Driving Ottawa Market

Members of the Ottawa Real Estate Board sold 1,062 residential properties in October through the Board’s Multiple Listing Service® system compared with 1,038 in October 2010, an increase of 2.3 per cent. The five-year average for October sales is 1,071. Of those sales, 253 were in the condominium property class, while 809 were in the…

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September Ottawa Home & Condo Market Report

Members of the Ottawa Real Estate Board sold 1,202 residential properties in September through the Board’s Multiple Listing Service® system compared with 1,071 in September 2010, an increase of 12.2 per cent. The five-year average for September sales is 1,160. Of those sales, 280 were in the condominium property class, while 922 were in the…

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Ottawa Home Sales Above Average in August

Members of the Ottawa Real Estate Board sold 1,329 residential properties in August through the Board’s Multiple Listing Service® system compared with 1,099 in August 2010, an increase of 20.9 per cent. The five-year average for August sales is 1,225. Of those sales, 285 were in the condominium property class, while 1,044 were in the…

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