In this post we will look at two charts. The first chart shows median residential sold prices and the second shows rent prices.
As you can see from the chart below, median residential prices have approximately doubled in Ottawa since 2016.
The chart below shows rent prices in Ottawa. Looking at rent prices they have stayed relatively flat over the last 10 years. I am expecting some upward pressure from immigration and student demand in the coming year.
Overall, it will be harder for new landlords to cover carrying costs and earn a profit without relying on continued capital appreciation.
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*All data and charts are sourced from the Ottawa Real Estate Board