Royal LePage predicts a 2.5% median home sales price boost in Ottawa home prices , while fellow agency Re/Max projects a 4% increase in the nation’s capital as per each company’s respective home sale price reports.
John Rogan, a broker in Ottawa with Royal LePage explained on the Rick Gibbons Show on 1310 NEWS that these projected outcomes shouldn’t impact the Ottawa home prices negatively. Rogan postulated that while there may be issues globally, the local market should remain positive in 2019.
2018 was a seller’s market with a robust buyer demand for homes in the city even with fewer listings of inventory, according to Rogan.
Given the affordable pricing and high levels of employment in Ottawa, it’s amidst the top-three house earners in Canada compared to other cities.
Ottawa residents don’t commonly lose money while owning a home, says Rogan. The Ottawa Real Estate Board shows that in the past 60 years, housing prices have scarcely decreased.