Real Estate Market News

Latest News

These articles feature the latest real estate market news and expert analysis by members of the Paul Rushforth Real Estate team

The market is always changing, so check this section often to learn about the latest conditions.

  • Coach houses open the door to better urban planning in Ottawa March 24, 2017

    The new bylaw allows homeowners to construct small, self-contained accessory apartments called coach houses that are detached from the primary dwelling but still on the same lot. This is part of a worldwide effort to increase density in existing urban areas. I expect coach houses – also known as “gr…

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  • Ottawa Sales Continue Positive Trend in February March 06, 2017

    Total home sales in Ottawa rose to 1,010 homes in February 2017. That's up 11.2% versus last year, which saw 908 sales for February 2016, which had an extra day because of the leap year. This number also well exceeds the 5-year average for the month of February, which is 872. Sales of both residenti…

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  • 2016 Proves to Be a Record Breaking Year in Ottawa January 06, 2017

    In 2016, the Ottawa resale market was stronger than ever, with record sales volumes throughout the year and prices breaking a new record in December.

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  • Condo Sales Lead the Way to Best October on Record November 08, 2016

    “October’s sales continued the record-breaking resale trend for the third straight month,” says Shane Silva, President of the Ottawa Real Estate Board. “While residential sales are identical to that of October 2015, condominium sales have soared – up by 27.2 per cent over last year. Lower inventory …

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  • New Federal Mortgage Rules in Effect Today October 17, 2016

    Originally announced on October 3 by Finance Minister Bill Morneau, some of the new rules for insured mortgages take effect today.

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  • No fall(ing) back in Ottawa's resale market October 13, 2016

    OTTAWA, October 5, 2016 - Members of the Ottawa Real Estate Board sold 1,371 residential properties in September through the Board’s Multiple Listing Service® System, compared with 1,241 in September 2015, an increase of 10.5 per cent. The five-year average for September sales is 1,171. “Again this …

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  • Ontario Introducing Bill to Regulate Home Inspectors August 18, 2016

    When you buy a home, the real estate agent is regulated, and so is your mortgage brokers and lawyer. But you also count on the advice of home inspectors, who aren't regulated, to protect you from expensive hidden problems. The good news is that this may change.

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  • Bank of Canada’s key overnight rate remains unchanged May 25, 2016

    Why is this good news for home buyers and home sellers? Banks and mortgage lenders don't have to follow the Bank of Canada's initiative or changes with regards to mortgage rates however, they use it as a guide to any changes they will internally make to interest rates. What does this mean to you? I…

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  • Second-best April on record for Ottawa resales May 17, 2016

    Ottawa's spring real estate market came in roaring in April and  is hot, hot, hot with the second highest sales on record for the month since 2010! Members of the Ottawa Real Estate Board sold 1,714 residential properties in April through the Board’s Multiple Listing Service® system, compared with …

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  • Millennials plan to buy say mortgage lenders April 15, 2016

    Two major mortgage lenders say that their research shows a strong desire among young Canadians to become first-time home buyers in this decade.RBC’s Home Ownership Poll reveals that 43 per cent of 18 to 24-year-old Canadians are considering buying a home within the next 2 years; up from 34 per cent …

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