These Ottawa neighbourhoods have the fastest-growing home prices
A recent report shows a major jump in housing prices in suburban Ottawa.
A report by housing app company HouseSigma, which recently launched in the Ottawa area, shows Stittsville, Kanata and Orléans have seen significant annual growth in 2021 compared to 2020. Stittsville experienced a jump of 26.8 per cent in single-detached and semi-detached home prices to $799,000 in 2021. Median prices in Kanata climbed 22.4 per cent to $769,900 and Orléans saw a 19.8 per cent increase to $658,900 in 2021.
“The residential real estate market in Canada has experienced explosive growth over the last 18 months, fueled by low interest rates, changing preferences and needs related to working at home, and increased investor activity,” the report’s introduction says.
Despite a 7.2 per cent spike in prices, Nepean has the lowest median price for a single family detached home, according to the report, at $632,000. Nepean and Ottawa East have the most affordable median price for townhouses at $419,000, while the cheapest condos can be found in Ottawa South, at $264,000 for a one-bedroom and $285,000 for a two-bedroom.
The most expensive single-family homes (single-detached and semi-detached) are in Ottawa West, with a median price of $865,000. This is an increase of 14.6 per cent from the 2020 median of $755,000, the report states. One-bedroom condos in Kanata are the priciest at $450,000, with Centretown taking the top spot for two-bedroom condos at $579,000. The most expensive townhouses are in central Ottawa, at $680,000.
“The Ottawa market was very strong in 2021 and the January 2022 data shows significant price inflation year-over-year,” the report concludes adding that while detached single-family homes remain the most popular, the condo market remains strong.
”The data in this report shows very strong price growth for condo product and with as many as four rate hikes by the Bank of Canada potentially in the cards for 2022, and the potential for government policy changes aimed at further cooling the market, like a speculators tax, new stress test rules, or bans on foreign buyers there could be volatility in the market, and there could be less mortgages funds available, keeping more buyers in the condo market.”
In March 2022, the average price of a home in Ottawa rose above $850,000, according to the Ottawa Real Estate Board, up 13 per cent from a year ago.
TOP 10 AREAS OF OTTAWA BY ANNUAL GROWTH
- Stittsville: 26.8 per cent ($799,000 median price)
- Kanata: 22.4 per cent ($769,900 median price)
- Orléans: 19.8 per cent ($658,900 median price)
- Ottawa South: 16.7 per cent ($699,900 median price)
- Barrhaven: 16.7 per cent ($699,900 median price)
- Ottawa West: 14.6 per cent ($864,900 median price)
- Ottawa West Centretown: 14.0 per cent ($797,000 median price)
- Ottawa East: 12.0 per cent ($699,900 median price)
- Nepean: 7.6 per cent ($632,450 median price)
- Ottawa Central: 1.2 per cent ($860,000 median price)
A map showing the 10 areas in Ottawa evaluated by HouseSigma and their ranking in annual growth in 2021. (housesigma.com)
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.