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
Western University researchers unlock potential 'cure' for ALS
New research out of London, Ont.'s Western University is shedding light on a potential cure for ALS, in which the targeting of the interaction between two proteins can halt or fully reverse the disease's progression.
Police release 3D images of young child found in an Ontario river two years ago
Police have released a three-dimensional image of a young child whose remains were discovered in the Grand River in Dunnville, Ont. almost two years ago.
B.C. brings in law on name changes on day that child killer's new identity revealed
The BC NDP have tabled legislation aimed at stopping people who have committed certain heinous acts from changing their names.
Kamala Harris drops F-bomb during White House live-stream
U.S. Vice-President Kamala Harris used a profanity on Monday while offering advice to young Asian Americans, Native Hawaiians and Pacific Islanders about how to break through barriers.
B.C. man fighting for refund after finding someone living at Whistler vacation rental
Edwin Mostered spent thousands of dollars booking a vacation home in Whistler, B.C., for a group skiing trip earlier this year – or so he thought.
Avs forward Valeri Nichushkin suspended at least six months
Colorado Avalanche forward Valeri Nichushkin was suspended for at least six months without pay and placed in Stage 3 of the league's player assistance program.
Collapsed Baltimore bridge span comes down with a boom after crews set off chain of explosives
Crews conducted a controlled demolition Monday to break down the largest remaining span of the collapsed Francis Scott Key Bridge in Baltimore.
Security video caught admitted serial killer disposing of bodies in Winnipeg garbage bins
Security video caught admitted serial killer Jeremy Skibicki on multiple late-night outings, disposing of body parts in nearby garbage bins and dumpsters in the middle of the night.
Mortgage companies could intensify the next recession, U.S. officials warn
U.S. officials worry the next recession could be intensified by a cascading series of failures in the mortgage industry caused by crashing home prices, frozen financial markets and soaring delinquencies.