#allinforexit

Ottawa's real estate market is seeing some great gains across the board. The best performing neighbourhoods in Ottawa compared with July 2017 have been Hintonburg / West Centre Town with a 12.1% increase, Barrhaven with a $12.7%, Manotick / Kars with a 10.4% increase, Blossom Park, Airport with a 10% increase, Overbrook and Castle Heights with a 10% increase, Elmvale Acres with a 9.8% increase and finally Kanata has seen a 9.6% increase in the last 12 months.

The benchmark prices are below.

Hintonburg / West Centre Town $541,800

Barrhaven $399,500

Manotick, Kars $550,800

Blossom Park and Aiport $455,100

Overbrook, Castle Heights $429,100

Elmvale Acres $419,700

Ottawa's real estate market is seeing good growth this summer according to recent Ottawa Real Estate Board's news release. The neighbourhoods South and West of Ottawa have seen the biggest amount of activity. Buyers tend to favour less expensive neighbourhoods of the City compared to the hot and more central neighbourhoods such as Westboro and New Edinburgh and the stretch along Carling up to the new DND Campus.

The benchmark price for single family homes rose to $428,800 in July which is an increase of 8 percent year over year. The area of Hintonburg and West Centre Town have seen a nice 12.1% increase while Rockcliffe Park has seen a mere 1.6% increase.

Fastest growth has been seen in West end neighbourhoods such as Barrhaven, Stittsville and Kanata. No surprise here as property prices are heating up in Ottawa and buyers are hitting up the suburbs to buy. The opening of the new National Defence headquarters at the old Nortel Campus and the strong growth of our IT sector are also reasons for this push to the West and South.

With the opening of the Ottawa LRT Confederation Line opening later this year the topic surrounding Ottawa LRT stations and what it all means for the Ottawa Real Estate Market is often talked about.

Although living close to a light rail train station in our beautiful City can bring more noise from commuters using the LRT station it is viewed as a benefit by most. Often the convenience of public transit will outweigh the negative points.

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Homes and Condos on the Confederation Line

Tunney's Pasture LRT Station, Bayview LRT Station, Pimisi LRT Station, Lyon LRT Station, Parliament LRT Station, Rideau LRT Station, uOttawa LRT Station, Lees LRT Station, Hurdman LRT Station, Tremblay LRT Station, St-Laurent LRT Station, Cyrville LRT Station, Blair LRT Station

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Although one could argue that more people would be using the streets and sidewalks near the LRT stations it would ultimately reduce the number of cars that would be using these same streets. Noise along with traffic should ultimately be reduced.

If you an investor perhaps you should consider choosing a neighbourhood that has easy access to one of the numerous Ottawa LRT stations that are opening on the Confederation Line and Trillium Line. If that is not an option perhaps consider purchasing a property near some future LRT stations which are part of the Stage 2 expansion. Many neighbourhoors of Ottawa will be serviced by the Trillium Line which will expand the services and provide more reliable, accessible and transit use.

Once Stage 2 is complete 70% of residents will be living within 5 km of an LRT station.