Here's how much you need to earn to buy a home in Ottawa
The income required to purchase a new home in Ottawa dropped $2,300 in October, as interest rates continued to fall, and the average cost of a home dropped.
Real Estate | CTV News Ottawa
Market Updates
Bennett Real Estate Rundown: Stittsville
Taylor Bennett joined us in studio this morning to show us a bit of what is on the market this morning.
New home construction down 14% in Ottawa so far in 2024, CMHC statistics show
New statistics from the Canada Mortgage and Housing Corporation (CMHC) show there were 636 housing starts in October, down from 1,106 housing starts the year before. Ottawa saw 1,510 housing starts in September.
Here's how much it costs to rent an apartment in Ottawa this fall
The cost of renting an apartment in Ottawa dropped in October, with lower rental rates for bachelor and two-bedroom apartments.
'Positive movement' in Ottawa's real estate market in October with home sales up nearly 50%
Ottawa home sales increased nearly 50 per cent in October, as "consumer confidence is getting stronger' following a fourth cut in interest rates this year.
Here's what you can buy for $729,000 in 8 Ottawa neighbourhoods
CTVNewsOttawa.ca looks at what you can buy for the average Ottawa home price of $729,000 in eight Ottawa neighbourhoods.
'It is significant': Ottawa residents react to interest rate cut
Homeowners with a variable rate mortgage in Ottawa can expect to see some savings thanks to a significant rate cut by the Bank of Canada.
Income required to buy a home in Ottawa drops $6,000 over the summer
A new report from Ratehub.ca shows homebuyers needed an average income of $126,100 in September to buy the average priced home for sale in Ottawa, down from $127,830 in August.
Ottawa housing starts down 10 per cent in 2024, CMHC report shows
The City of Ottawa saw a boost in housing starts in September, but the number of new homes under construction in the capital is still 10 per cent lower than last year's numbers.
More Real Estate Videos
Hot Properties: Pilon Real Estate Group
Sab Taylor shows us three of the hottest properties available to buy in the Ottawa region.
LISTEN: Bennett Real Estate and Wealth Show
More Real Estate News
This is how much money you need to make to buy a house in Canada's largest cities
The average salary needed to buy a home keeps inching down in cities across Canada, according to the latest data.
CMHC reports annual pace of housing starts up eight per cent in October
Canada Mortgage and Housing Corp. says the annual pace of housing starts in October rose eight per cent compared with September.
Canada rent report: What landlords are asking tenants to pay
Average asking rents declined nationally on a year-over-year basis for the first time in more than three years in October, said a report out Thursday.
CMHC says mortgage risks remain as delinquencies creep up, alternative lending grows
Canada's housing agency says risks remain in the mortgage market as over a million contracts are up for renewal next year while a growing share of new mortgages are being issued by alternative lenders.
Poilievre asks premiers to axe their sales taxes on new homes worth under $1 million
Conservative Leader Pierre Poilievre has written to the provinces' premiers, asking them to eliminate their sales taxes on new homes that are under $1 million.
Where should Canada look to improve its housing situation? The answer may shock you
Housing experts argue widespread adoption of government-supported affordable housing, the growth of alternative models like co-operatives and co-housing, and the increased use of advanced building techniques could all play a role in improving Canada's housing system.
With condos not selling, Canada faces worsening home ownership crisis
Canada's home ownership crisis is likely to worsen over the next few years as proposed project sales languish at historically low levels, stalling the funding needed for construction, half a dozen economists and realtors told Reuters.
StatCan latest wealth survey shows stark disparity between homeowners, renters
Statistics Canada's latest financial security survey shows a stark disparity between the wealth of homeowners and renters, even as it fails to capture the true scale what's owned by Canada's richest families.
LISTEN: Open House - The Real Estate & Mortgage Show on 580 CFRA
National Real Estate Videos
Rental Market
Feds seek to convert dozens of government properties for affordable housing
The federal government has added 56 properties to a new public lands bank of locations that are suitable for long-term leases so developers can build housing, a move the Housing Minister says will help boost the supply of homes Canadians can afford.
Rent in Canada now averaging $2,201 per month, with some markets seeing big jumps
Rents are still rising in Canada but the year-over-year pace of growth has slowed, according to a new report.
Canada's landlords now asking an average of $2,185/month for rent
A new report says the average asking rent for a home in Canada reached $2,185 in June, up seven per cent compared with a year ago despite representing the slowest annual rate of growth in 13 months.
More rental housing development needed despite recent rise: RBC economist
Rental housing construction in Canada has picked up significantly and is expected to keep growing this year, according to a new RBC report.
Skyrocketing rent: Some Canadians saying goodbye to half their paycheque
A significant number of Canadian renters are spending more than half their paycheque putting a roof over their head, according to a new Royal LePage report.
Average asking rental price in Canada reaches record high: report
The average asking rental price in Canada surpassed $2,200 to reach a record high in May, according to a new report.
Here's what Trudeau says the upcoming federal budget will offer renters
The federal government will create a new 'Canadian Renters' Bill of Rights,' which would require landlords to disclose their properties' rental price history to prospective tenants.
Rental demand from international students will slow this year, but won't fall: RBC
RBC says the recently announced cap on new study permits won't lead to an outright decrease in demand for rental housing from international students this year.
EXPERT CORNER
High stakes for homeowners facing choice between fixed- or variable-rate mortgage
Deciding between a fixed- or variable-rate mortgage has always been a challenging choice for borrowers looking to buy a home or renew a loan, but with interest rates sitting at levels not seen in decades, the stakes are especially high.
OPINION
OPINION New to Canada? Here's your guide to purchasing or renting your first home
Navigating Canada's real estate market can be daunting for new immigrants, especially amid an affordable housing crisis. Personal finance columnist Christopher Liew outlines the documentation newcomers will need to rent or purchase a home in Canada, and some key expenses to budget for.
WATCH
WATCH Canada on 'the razor's edge' of a recession, warns economist
After the Bank of Canada held its key interest rate at five per cent, an economist says that inflation will be the key factor in determining whether more rate hikes are coming, and warns that a recession is a real possibility.
Home ownership got a tiny bit more affordable at start of 2023 — but housing crisis still raging: RBC report
It recently got a tiny bit more affordable to own a home in Canada — but according to RBC economists, the affordability crisis is still raging in many parts of Canada.
From an aggregate price of $809K to the market correction, report looks at real estate trends in Canada
A new report has found that buyer demand for homes is remaining strong in Canada despite borrowing rate hikes — and the market may be stabilizing after the pandemic boom.
opinion
opinion Canada can dodge a recession, but it could still happen; here's why
In his column for CTVNews.ca, personal finance contributor Christopher Liew outlines how Canada might avoid a recession, as well as some risks that could contribute to one.
What happens if you only pay interest on your home?
As elevated interest rates hit the housing market, some people have been extending their amortization period out several decades and are only paying interest on their homes.
opinion
opinion Should you take advantage of the First Home Savings Account?
Personal finance contributor Christopher Liew explains how First Home Savings Accounts work, who’s eligible for the program, and outlines the contribution rules.
GTA Housing Market
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Canada
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'My two daughters were sleeping': London Ont. family in shock after their home riddled with gunfire
A London father and son they’re shocked and confused after their home was riddled with bullets while young children were sleeping inside.
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Sask. woman who refused to provide breath sample did not break the law, court finds
A Saskatchewan woman who refused to provide a breath sample after being stopped by police in Regina did not break the law – as the officer's request was deemed not lawful given the circumstances.
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Parole board reverses decision and will allow families of Paul Bernardo's victims to attend upcoming parole hearing in person
The families of the victims of Paul Bernardo will be allowed to attend the serial killer’s upcoming parole hearing in person, the Parole Board of Canada (PBC) says.
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Baby dies after being reported missing in midtown Toronto: police
A four-month-old baby is dead after what Toronto police are calling a “suspicious incident” at a Toronto Community Housing building in the city’s midtown area on Wednesday afternoon.
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'Bomb cyclone' batters B.C. coast with hurricane-force winds, downing trees onto roads and vehicles
Massive trees toppled onto roads, power lines and parked cars as hurricane-force winds battered the B.C. coast overnight during an intense “bomb cyclone” weather event.
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New Brunswick measles outbreak now reporting 44 cases, mostly teens and children
A measles outbreak in New Brunswick that began last month with a single travel-related case is growing and today stands at 44 cases.
World
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Duct-taped banana sells for US$6.2M at art auction
A piece of conceptual art consisting of a banana duct-taped to a wall sold for US$6.2 million at an auction in New York on Wednesday.
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The FBI arrested a man who's been charged with planning an attack on the New York Stock Exchange
A Florida man was arrested Wednesday and charged with a plot to “reboot” the U.S. government by planting a bomb at the New York Stock Exchange this week and detonating it with a remote-controlled device, according to the FBI.
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Republicans on House Ethics reject for now releasing report on Matt Gaetz
House Ethics Committee Republicans voted Wednesday against releasing the panel’s long-running investigation into U.S. president-elect Donald Trump’s nominee for attorney general, former Rep. Matt Gaetz, the top Democrat on the panel said.
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Brazil’s Lula welcomes China's Xi for state visit as ties between countries strengthen
Brazilian President Luiz Inácio Lula da Silva on Wednesday welcomed China’s President Xi Jinping for a state visit at the Alvorada Palace in Brasilia.
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Trump chooses former acting Attorney General Matt Whitaker as NATO ambassador
Donald Trump said Wednesday that he has chosen former acting Attorney General Matt Whitaker to serve as U.S. ambassador to NATO, the bedrock Western alliance that the president-elect has expressed skepticism about for years.
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Smuggler arrested with 300 tarantulas strapped to his body
Police in Peru have arrested a man caught trying to leave the country with 320 tarantulas, 110 centipedes and nine bullet ants strapped to his body.
Lifestyle
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B.C. man reunites with Nova Scotia stranger, 56 years after being saved from drowning
After driving near the water that winter day, Brian Lavery thought he saw a dog splashing in the waves – then realized it was way too cold for that.
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Are you a digital nomad? Share your journey of remote work and travel
CTVNews.ca wants to hear from digital nomads who have taken up location-independent jobs and can work from anywhere with an internet connection.
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Shake Shack cheeseburgers to be served in first class on Delta flights
Delta Air Lines’ newest dining option for first class passengers isn’t anything fancy. In fact, it’s the exact opposite, because it’s fast food.
Sports
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MLB will test robot umpires at 13 spring training ballparks hosting 19 teams
Major League Baseball will test robot umpires as part of a challenge system during spring training at 13 ballparks hosting 19 teams, which could lead to regular-season use in 2026.
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Can the sporty be Godly? Why the Vatican is in the race to become a global sporting presence
Since 2022, Dutch-born rider Rien Schuurhuis has become the first cyclist to compete for the tiny city-state of the Vatican at an elite level.
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Trump feuded with NFL players in his first term. Now, some are busting out his dance moves
If the latest dance sweeping the sports world is any indication, Donald Trump and the NFL might get along much better in his second term in the White House than they did the first time around.
Business
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How to avoid getting scammed while online shopping this holiday season
Black Friday and Cyber Monday are quickly approaching, meaning many people will be looking to score a deal ahead of the holidays. There are some precautions to take before shopping online.
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B.C. port union challenges constitutionality of labour minister's back-to-work order
The union representing port supervisors in British Columbia is formally challenging the legal and constitutional authority of the federal labour minister to order them back to work.
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McCain, Cavendish Farms named in U.S. class-actions alleging 'potato cartel'
The heat has been turned up on two Canadian frozen-potato giants who have been named in separate price-fixing lawsuits south of the border.
Autos
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Despite slowing sales, automakers are expanding electric vehicle models, including family haulers
Even though sales of electric vehicles aren't growing as fast as in past years and President-elect Donald Trump may ditch tax credits for EV buyers, automakers are moving ahead with new models that should appeal to mainstream buyers.
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Sask. woman who refused to provide breath sample did not break the law, court finds
A Saskatchewan woman who refused to provide a breath sample after being stopped by police in Regina did not break the law – as the officer's request was deemed not lawful given the circumstances.
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Toyota Highlander tops list of most stolen vehicles in 2023: Equite Association
In Canada a car is stolen every six minutes, though some vehicles are more sought after than others.
Entertainment
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Lady Gaga, Post Malone and Green Day set to headline the 2025 Coachella fest
Lady Gaga is returning to the desert to mark her second appearance as the headliner for Southern California’s Coachella Valley Music and Arts Festival.
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One Direction stars gather for funeral of ex-bandmate Liam Payne
Liam Payne's family, friends and former bandmates have come together to pay tribute to the British singer at his funeral in England on Wednesday, just over a month after the One Direction star died aged 31 in Argentina.
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Morgan Wallen and Post Malone headline a very collaborative Country Music Association Awards
Post Malone and Morgan Wallen's collaboration 'I Had Some Help' could make both men big winners at Wednesday’s night's Country Music Association Awards.
Health
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Texas doctor gets 190-year sentence for tampering with IV bags used in surgeries
A Dallas anesthesiologist was sentenced Wednesday to 190 years in prison for injecting a nerve-blocking agent and other drugs into bags of intravenous fluid at a surgical center where he worked, leading to the death of a coworker and causing cardiac emergencies for several patients.
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New Brunswick measles outbreak now reporting 44 cases, mostly teens and children
A measles outbreak in New Brunswick that began last month with a single travel-related case is growing and today stands at 44 cases.
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CFIA recalls raw pistachios sold in Ontario
Raw pistachios sold by Nutworks are being recalled in Ontario due to possible Salmonella contamination.
Politics
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Boissonnault out of cabinet to 'focus on clearing the allegations,' Trudeau announces
Prime Minister Justin Trudeau has announced embattled minister Randy Boissonnault is out of cabinet.
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Ford says there is 'clear consensus' among premiers for separate trade deal with Mexico
Ontario Premier Doug Ford says there is 'clear consensus' among premiers for separate bilateral trade deals with the U.S. and Mexico, following a phone call with all the leaders on Wednesday.
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'It's not about me': Human rights activist Irwin Cotler on alleged Iranian assassination plot
Canadian human rights advocate and former Liberal justice minister Irwin Cotler — who was the target of an alleged foiled assassination plot by agents of Iran — says he isn’t concerned about the alleged threats, because he has confidence in his protective detail.
Sci-Tech
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A social media ban for children younger than 16 is introduced in Australia's Parliament
Australia’s communications minister introduced a world-first law into Parliament on Thursday that would ban children younger than 16 from social media, saying online safety was one of parents’ toughest challenges.
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U.S. gathers allies to talk AI safety, Trump's vow to undo Biden's AI policy overshadows their work
President-elect Donald Trump has vowed to repeal President Joe Biden's signature artificial intelligence policy when he returns to the White House.
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Giraffes are up next on the endangered species list, US wildlife officials say
Giraffe populations are declining at such an alarming rate — from habitat loss, poaching, urbanization and climate change-fueled drought — that U.S. wildlife officials announced a proposal on Wednesday to help protect several of the species.