Ottawa and Surrounding Area Real Estate market discussion

cyberfreak123 wrote: ↑ Another area I'm monitoring is a small neighborhood called Eastway Gardens, north of Train Yard. There's no community housing there. There's a tunnel on Tremblay road that goes under the highway to the LRT at St-Laurent . Small cheap bungalows that make good rentals, if you can get it for cheap. But prices have increased as well recently... The big vacant land on Tremblay will be developed soon. Offices, commercial and some residential. I wonder which department will move there once it'll be finished.

sky417 wrote: ↑ @michelb Could you please help me find out how much 234 Escarpment Cres in RR actually was sold for?
I was at the open house couple weeks ago, just out of curiosity, and the place was packed.. Wonder how it turned out

TIA

cyberfreak123 wrote: ↑ Another area I'm monitoring is a small neighborhood called Eastway Gardens, north of Train Yard. There's no community housing there. There's a tunnel on Tremblay road that goes under the highway to the LRT at St-Laurent . Small cheap bungalows that make good rentals, if you can get it for cheap. But prices have increased as well recently... The big vacant land on Tremblay will be developed soon. Offices, commercial and some residential. I wonder which department will move there once it'll be finished.

jk9088 wrote: ↑ Yes west end but within the greenbelt so definitely more central than Kanata/Barrhaven. Near IKEA. Freehold bungalow around 60 years old (though it was recently very nicely renovated so definitely looks newer, but still, with a house that old I would be wary to buy it without an inspection--though perhaps the buyer did do an inspection prior to bidding). I was surprised that based on the open house, the demand seemed just as high as for Barrhaven townhouses in the spring, which I definitely did not expect especially this time of the year with the election looming as you mentioned.

I'm curious which areas are you looking that have freeholds <500k? Perhaps I should expand the areas I'm tracking. I usually like to keep my rentals near the West end since I live in Kanata so it's much easier to manage than if I owned a property in the east, but if the market is more buyer-friendly in other areas I certainly wouldn't hesitate to go further.

bdajqx wrote: ↑ is there a site where i can see sold prices for ottawa real estate?

audiorichard wrote: ↑ Good news for real estate market tonight? What do you think?

BlueSolstice wrote: ↑ Definitely good news for Ottawa RE. No federal layoffs or hiring freezes anytime soon.

The question is how much has the RE market priced in a liberal or liberal/NDP government? Prices has gone up quite a bit since polls showed conservative hitting a ceiling that's short of a majority.

Zero Hope wrote: ↑ The gravy train continues!

Trudeau's favorite corrupt company SNC stock jumps 14%!

BlueSolstice wrote: ↑ Personally, I prefer not to discuss whether SNC is a corrupt company or whether one should vote for Trudeau in this thread. I think we can all agree that conservatives are bad for Ottawa RE, and if you own property in Ottawa, voting conservative would be voting against your self interest, if your self interest involves preserving and/or increasing your net worth.

Now, there is still the possibility that Trudeau's minority government may fall, and a new election can result in an unexpected conservative government. If that happens, Ottawa RE can expect quite a shock.

Applesmack wrote: ↑ IMO it has priced in a Conservative government if anything. People were worried that conservatives were leading polls and that they would also be more motivated to come out and vote.

I'm expecting even greater buyer confidence in the market than before.

fogetmylogin wrote: ↑ I agree. Ottawa civil servants are exceedingly cautious people so many were probably imagining the worse case even Conservative minority was the best hope Cons had and the early minority Harper years actually had record levels of hiring.

For what it's worth I think the spring will be very strong especially for single family houses in the more affordable price range. I am still a bit bearish on higher end homes and condos as this segment seems to have missed the boom a bit. However, the rental market in this price range is strong. My centrally located town house that rented for $3200 three years ago was quickly snapped up for $3800 this summer. Meanwhile the sale comps are up a bit but not like cheaper properties.

cyberfreak123 wrote: ↑ What do you guys think about this sale in Alta Vista? I'm just curious who would buy this and what would they do with it.

224 ROGER , OTTAWA
https://realestate.yellitmedia.com/6440
Asking price: 599K
Sold: 805K

cyberfreak123 wrote: ↑ If the low inventory trend in the affordable range continues like this, I think Spring will see another very strong seller market. Simple Supply and Demand dynamic. Low interest will stay here for a while. With the Liberal in power, even minority, it's business as usual,