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
A healthy lifestyle can mitigate genetic risk for early death by 62%, study suggests
Even if your genetics put you at greater risk for early death, a healthy lifestyle could help you significantly combat it, according to a new study.
When you have a moment's notice to evacuate, what do you take?
Knowing what to have at home, or take with you for an evacuation, can be useful and even life-saving.
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.
No, a best-selling American writing duo didn't pen a Galen Weston romance novel
You would be forgiven for thinking Christina Lauren's latest romance novel stars a hunky reimagining of Loblaw chairman Galen G. Weston.
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.
Ellen DeGeneres addresses the 'hurtful' end of her talk show in new stand-up set
Ellen DeGeneres is reflecting on how her talk show came to an end in her newest Netflix special, 'Ellen's Last Stand ... Up Tour.'
Sunchips, Munchies recalled by Frito Lay Canada for possible salmonella contamination
Frito Lay Canada is recalling two of its most popular snacks due to a possible risk of salmonella contamination.
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.