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
More than 115 cases of eye damage reported in Ontario after solar eclipse
More than 115 people who viewed the solar eclipse in Ontario earlier this month experienced eye damage after the event, according to eye doctors in the province.
Toxic testing standoff: Family leaves house over air quality
A Sherwood Park family says their new house is uninhabitable. The McNaughton's say they were forced to leave the house after living there for only a week because contaminants inside made it difficult to breathe.
Decoy bear used to catch man who illegally killed a grizzly, B.C. conservation officers say
A man has been handed a lengthy hunting ban and fined thousands of dollars for illegally killing a grizzly bear, B.C. conservation officers say.
B.C. seeks ban on public drug use, dialing back decriminalization
The B.C. NDP has asked the federal government to recriminalize public drug use, marking a major shift in the province's approach to addressing the deadly overdose crisis.
OPP responds to apparent video of officer supporting anti-Trudeau government protestors
The Ontario Provincial Police (OPP) says it's investigating an interaction between a uniformed officer and anti-Trudeau government protestors after a video circulated on social media.
An emergency slide falls off a Delta Air Lines plane, forcing pilots to return to JFK in New York
An emergency slide fell off a Delta Air Lines jetliner shortly after takeoff Friday from New York, and pilots who felt a vibration in the plane circled back to land safely at JFK Airport.
Sophie Gregoire Trudeau on navigating post-political life, co-parenting and freedom
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
Last letters of pioneering climber who died on Everest reveal dark side of mountaineering
George Mallory is renowned for being one of the first British mountaineers to attempt to scale the dizzying heights of Mount Everest during the 1920s. Nearly a century later, newly digitized letters shed light on Mallory’s hopes and fears about ascending Everest.
Loud boom in Hamilton caused by propane tank, police say
A loud explosion was heard across Hamilton on Friday after a propane tank was accidentally destroyed and detonated at a local scrap metal yard, police say.