Are you living in the fastest growing areas in the national capital region?
Need a pick me up after shovelling all of that snow on your property? Take a moment to realize the value of that property.
Realtor Taylor Bennett is sharing his breakdown of the 2021 real estate numbers in Ottawa.
Those of you who bought a fixer-upper in Merrickville a couple of years ago may be laughing (or at least smiling) all the way to the bank on Main Street.
Residential values in the Merrickville area are up 70 per cent.
Condo owners in Westboro can raise a glass to that purchase too with values there up 50 per cent.
This region is a very large real estate district.
Bennett prepared slides to illustrate the main trends and hottest areas of growth. These trends are based on the Ottawa Real Estate Board's numbers for 2021.
He compares ‘inner’ Ottawa and ‘outer’ Ottawa values.
“The difference in prices between your average residential home in the inner versus outer parts is substantial at almost $300,000 (60%) - $776,000 for Inner and $485,244 for Outer,” says Bennett. “With more and more Baby Boomers looking to retire and with many jobs going virtual, the outer areas provide some great options for those who find the prices in inner Ottawa to be too high.”
Over the past number of years, Bennett has highlighted the growth in areas like Richmond, Almonte, Arnprior and Smiths Falls.
On the CTV News at Noon, Bennett emphasized staggering growth in areas like Embrun, Augusta, Leitrim, Calabogie and Drummond with price increases ranging from 50-62 per cent for residential properties.
“Leitrim founds its way onto this list with a new home development having recently closed in the area,” says Bennett.
When it comes to condos, Embrun was also noted as one of the fastest growing markets.
“In the condo world, it's no shock to find Westboro on this list and Ottawa East, as these two areas are quite popular among downsizing Baby Boomers,” says Bennett.
“Both Windsor Park & Riverside South offer some great stacked townhouse and townhouse condos for young professionals and families. And the popular mid-rise condos in Embrun offer an affordable, low-maintenance option for any retiree.”
CTVNews.ca Top Stories
'I just can't believe that it took so long': Body found in wreckage 3 months after deadly fire
A man accused of arson in a January Old Strathcona apartment fire is expected to be charged with manslaughter after a body was discovered in the burned building late last month.
No proof man lied to brother about number of kittens born in litter, B.C. tribunal rules
A man was denied a $5,000 payout from his brother after a B.C. tribunal dismissed his claim disputing how many kittens were born in a litter.
Russia puts Ukrainian President Zelenskyy on its wanted list
Russia has put Ukrainian President Volodymyr Zelenskyy on its wanted list, Russian state media reported Saturday, citing the interior ministry’s database.
Quebec police hand out hundreds of tickets to Hells Angels and other bikers before 'first run' meeting
Quebec provincial police handed out hundreds of fines to Hells Angels members and other supporting motorcycle clubs who met for their 'first run' in a small town near Sherbrooke, Que.
Explosion at train station leads to discovery of stolen car on Montreal's South Shore: police
Police are investigating after a BMW exploded in the St-Lambert Exo train station parking lot on Montreal's South Shore.
A Chinese driver is praised for helping reduce casualties in a highway collapse that killed 48
A Chinese truck driver was praised in local media Saturday for parking his vehicle across a highway and preventing more cars from tumbling down a slope after a section of the road in the country's mountainous south collapsed and killed at least 48 people.
There's progress reported in Gaza truce talks, but Israel downplays chances of ending war with Hamas
A delegation of the Palestinian militant group Hamas was in Cairo on Saturday as Egyptian state media reported "noticeable progress" in cease-fire talks with Israel, though an Israeli official downplayed the prospects for a full end to the war in Gaza.
Snakes almost on a plane: U.S. TSA discovers a bag with small snakes in passenger's pants
According to an X post by the Transportation Security Administration, officers at the Miami International Airport found the small bag of snakes hidden in a passenger's trousers on April 26 at a checkpoint.
A candidate for Germany's key party was beaten up while campaigning for European elections
A candidate for Chancellor Olaf Scholz's center-left party in next month's election for the European Parliament was beaten up and seriously injured while campaigning in an eastern city, the party said Saturday.