Ottawa one of the least expensive capital cities for homebuyers, report suggests
Ottawa is one of the least expensive capital cities for homebuyers, according to numbers crunched by a UK-based insurance company.
The CIA Landlords Insurance study, published Jan. 3, 2023, ranked average house sizes in 30 of the UK's most populous cities and compared the figures globally.
Using price per square metre data from Numbeo.com, a crowd-sourced data aggregator, the agency reported that Ottawa has one of the lowest prices per square metre compared to 22 other global capitals.
Ottawa ranked third for price per square metre to buy a house in the city core at 4,227 GBP, or just under $7,000 CAD (around $650 per square foot). The cheapest homes, of the cities listed in the report, are found in Athens, Greece, which come in at just over $3,700 CAD per sq. m. Brussels, Belgium was second at around $5,600 CAD per sq. m.
London, UK, by comparison, costs nearly $20,000 CAD per sq. m., according to the cited data, while Washington, D.C.'s price came in at around $10,600 per sq. m.
The Numbeo figure used for the report is cited on the page as "price per square meter to buy an apartment in city centre" and is based on the higher end of a range between $4,700 and $8,300. It says data compiled for Ottawa was based on 228 entries from 43 contributors in the past 18 months and was last updated this month.
Canadian homes are also some of the largest, CIA Landlords Insurance claimed.
Using data on Canadian home sizes from ShrinkMyFootprint.com (which itself cites the Canadian Home Builders' Association as a source), the CIA Landlords UK report said the average home in Ottawa is around 181 sq. m., or 1,948 sq. ft., more than double the size of the average London, UK home at just 72 sq. m. (around 775 sq. ft.).
Canadian homes ranked fourth among global capitals for home size, behind Australia at 214 sq. m. (2,303 sq. ft.), New Zealand at 202 sq. m. (2,174 sq. ft.) and the U.S. at 201 sq. m. (2,163 sq. ft.)
CTVNews.ca Top Stories
Quebec nurse had to clean up after husband's death in Montreal hospital
On a night she should have been mourning, a nurse from Quebec's Laurentians region says she was forced to clean up her husband after he died at a hospital in Montreal.
Northern Ont. lawyer who abandoned clients in child protection cases disbarred
A North Bay, Ont., lawyer who abandoned 15 clients – many of them child protection cases – has lost his licence to practise law.
Bank of Canada officials split on when to start cutting interest rates
Members of the Bank of Canada's governing council were split on how long the central bank should wait before it starts cutting interest rates when they met earlier this month.
Maple Leafs fall to Bruins in Game 3, trail series 2-1
Brad Marchand scored twice, including the winner in the third period, and added an assist as the Boston Bruins downed the Toronto Maple Leafs 4-2 to take a 2-1 lead in their first-round playoff series Wednesday
Cuban government apologizes to Montreal-area family after delivering wrong body
Cuba's foreign affairs minister has apologized to a Montreal-area family after they were sent the wrong body following the death of a loved one.
'It was instant karma': Viral video captures failed theft attempt in Nanaimo, B.C.
Mounties in Nanaimo, B.C., say two late-night revellers are lucky their allegedly drunken antics weren't reported to police after security cameras captured the men trying to steal a heavy sign from a downtown business.
What is changing about Canada's capital gains tax and how does it impact me?
The federal government's proposed change to capital gains taxation is expected to increase taxes on investments and mainly affect wealthy Canadians and businesses. Here's what you need to know about the move.
New Indigenous loan guarantee program a 'really big deal,' Freeland says at Toronto conference
Canada's Deputy Prime Minister Chrystia Freeland was among the 1,700 delegates attending the two-day First Nations Major Projects Coalition (FNMPC) conference that concluded Tuesday in Toronto.
'Life was not fair to him': Daughter of N.B. man exonerated of murder remembers him as a kind soul
The daughter of a New Brunswick man recently exonerated from murder, is remembering her father as somebody who, despite a wrongful conviction, never became bitter or angry.