This Ottawa neighbourhood was the 'biggest loser' for property values in 2022, study finds
A new home is displayed for sale in a new housing development in Ottawa on Tuesday, July 14, 2020. Prospective buyers have lamented the torrid pace Canada's real estate market has moved at in recent years, but many feel 2023 may be the year their luck changes. THE CANADIAN PRESS/Sean Kilpatrick
Homeowners in Carp are the big winners for rising property values in the city of Ottawa, while Manotick was the "biggest loser" as the only neighbourhood with declining property values in 2022, according to a new study.
Labrosse Real Estate Group analyzed the data of real estate sales in 2022 to find out which neighbourhoods gained the most value, and "which ones were the biggest losers". The study analyzed all home sales in the MLS real estate database last year.
Here is a look at the winners and losers in Ottawa neighbourhoods in 2022, according to Labrosse Real Estate Group.
"Biggest loser"
Manotick
The only area in Ottawa to see a decline in value in 2022 was Manotick, according to the study, with a 4.6 per cent decrease in values.
Labrosse Real Estate Group says the average sale price in Manotick was $1.067 million, down from $1.114 million in 2021.
The survey finds Alexandria, east of Ottawa, saw a 0.5 per cent decline in real estate prices in 2022.
Winners
Carp
Carp is the "winner of the greater Ottawa area in terms of home value increases", according to the study. The average sale price in Carp in 2022 was $932,300, up from $809,000 the year before – a 15.2 per cent increase in property values.
Nepean/Kanata
Homes in Nepean and Kanata saw a 7.9 per cent increase in prices in 2022. Labrosse Real Estate Group's survey shows the average sale price in Ottawa's west end was $729,000, up from $681,500 in 2021.
Orleans
Orleans saw the third-highest increase in home values in 2022, up 7.1 per cent from the year before. The survey shows the average sale price in Orleans was $645,000 last year, up from $600,000 in 2021.
Stittsville
Stittsville saw a 7 per cent increase in the average sale price in 2022, with homes selling for an average of $833,000. The average sale price for 2021 was $778,500.
Centretown
Home prices in Ottawa's Centretown neighbourhood increased 5.6 per cent in 2022. The survey shows the average sale price in the downtown area was $698,500 last year, up from $658,700.
Metcalfe
Metcalfe homeowners saw a 4.9 per cent increase in prices in 2022. The survey shows the average sale price in Metcalfe was $932,500 last year, up from $889,000.
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