Last month, when Statistics Canada released Q3 data for the Canadian economy, the numbers showed residential real estate making up more the 9% of Canada’s GDP, with a rate of growth that is outpacing the economy. Better Dwelling’s article “Canada’s Economy Has Never Been More Dependent On Real Estate“ is worth the short read for all the real estate-related stats.
How does that impact Canada’s national capital? Well, Ottawa’s fiery hot residential real estate market certainly contributed to those statistics last year, with a 19.5% increase in average sale price, year over year. In fact, over the past 64 years, residential real estate has been a steady investment in Canada’s capital, only stepping in to negative territory 5 times in that period — in 1961 and 1962, and in 1994, 1995 and 1996.
Whether selling or buying, I’m always happy to talk real estate. Message or call me and let’s connect for #resultsthatmoveyou!