If it happens in spring, a bunch of first time buyers will see their purchasing power increase. Interest rate stress should also be alleviated for existing public servant owners. If it's delayed, people at the top of their scale will be on a pay freeze, but then everyone gets lump sums whenever the contract eventually gets signed.
The annual rate increase is also important. Last contact was below inflation, all bargaining groups are pushing for catch-up. If the first agreement (usually PA group) gets anything over 3% a year, the Ottawa market probably looks very healthy.
I don't really see a strike risk at this point and odds still favour LPC majority of minority.