bravo festival condos.These areas have seen the biggest increases in house prices. The Canadian residential real estate market has experienced explosive growth over the past 18 months thanks to low interest rates, changes in preferences and demand related to working from home and increased investor activity, according to a recent report by housing app company HouseSigma.Please Visit: bravo festival condos to Get Your VVIP Registration Today!
Its capital is no exception. According to the report, the three areas in Ottawa where home prices have increased the most in the past 18 months are Stittsville, Kanata and Orl é ans.
The report says it is bullish on the apartment market, with the Bank of Canada likely to raise interest rates as many as four times in 2022, further government policies aimed at cooling the market, and a possible reduction in available mortgage funds. will encourage more buyers to stay in the apartment market.
At the same time, skyrocketing housing prices have indeed reduced the desire of many people to buy. More and more Canadians are suspending home-buying plans amid record high house prices, according to a new poll by Fengye Bank.
According to the survey, 43% of Canadians are now shelving their home purchase plans, compared with 33% in 2021 and 20% in 2020. Young Canadians seem to be more depressed about the real estate market. According to the survey, 56 per cent of respondents aged 18 to 34 said that the current economic environment had led them to stop buying homes, while 62 per cent said they were waiting for house prices to fall before buying.
This is also slightly reflected in the property market in Ottawa. Members of the Ottawa Real Estate Board sold 2011 residential properties through the committee’s Multiple Listing Service ®system in March, compared with 2274 in March 2021, down 12%. Sales in March included 1493 units in the residential property category, down 12 per cent from the same period last year, and 518 units in the apartment property category, down 10 per cent from March 2021.
But Penny Torontow, chairman of the Ottawa Real Estate Board, said that although sales fell in March compared with the same period last year, it was still a strong and busy start for the spring. Trading volume was 42 per cent higher than in February and 12 per cent higher than the average over the past five years.