From the blog...

Ottawa Market Outlook for 2012

Posted on: January 13th, 2012 by Chris Scott

Most predictions are that Ottawa’s housing market will remain stable in spite of slower economic growth and the continued uncertainty in global markets. I tend to agree with this outlook. The only question mark relates to the upcoming federal budget. Substantial cuts to jobs in the public service could have a temporary effect on our housing market.

The fundamentals are still strong for Ottawa. Good job market, highly paid workforce, low vacancy rates, and continued growth in the NCR. Interestingly, indications are that this year’s market will be fuelled by move up buyers and downsizing baby boomers.

According to CMHC, “Ottawa’s housing market activity will moderate but remain stable going into 2012, supported by low financing rates, slightly improving labour market conditions and a positive migration outlook. Given the headwinds weighing on the economic outlook, as well as the increasing significance of an aging population, our forecast for dwellings in Ottawa favours more affordable housing choices”, said senior market analyst Sandra Torres.

It is expected that condominiums will lead the charge in 2012. This market is being driven by baby boomers looking to downsize. According to CMHC, more than 170,000 people in the capital region are between the ages of 55 and 74. It is also expected that more than 80 per cent of all residential construction started in Ottawa in 2012 will be in the suburbs, outside the Greenbelt.

The condominium boom will have an impact on the resale market. As more people opt for smaller condo spaces outside the Greenbelt, CMHC expects a record number of homes to be offered for sale. This will increase competition among sellers and could cause price increases to taper off, perhaps more in step with inflation at about 2 per cent.

Interest rates are expected to remain low for most of 2012 so Buyers will have money to spend and inventory to choose from.

I am always available to chat if you have any questions about the market or your house in particular.

Chris

    
 
 
        
   Anny Metivier 
 2024-08-13
 
 
  Over the years, with multiple military moves, we’ve had the opportunity to work with many real estate agents, and we can confidently say that not all are created equal. Chris, by far, has been the most trustworthy and easiest real estate agent we’ve had the pleasure to work with.
  
 
       
   Jake Moffat 
 2024-06-07
 
 
  Colin has been the best realtor to work with and helped us buy a great house in the perfect neighborhood. Colin and the rest of the team at Chris Scott were incredibly helpful the whole way and always available to answer questions, show us houses at a time that was convenient for us and were just generally professional and friendly during the whole process. We will recommend Colin and the team to our friends and family.
  
 
       
   Faith Woodley 
 2024-03-13
 
 
  I was a co-Executrix of an estate, and we had a condo that we had to sell for the estate.  In order to get the property ready for sale, we had to have the over 5,000 square foot condo painted and the carpets replaced.  Since the property was empty, Chris recommended a home stager that he uses on properties that require these services, and she did a fantastic job of staging the condo. It took the condo to the next level. The condo sold for a phenomenal price, and we were very happy with Chris Scott and his abilities.  He always gives over 100 percent to get the job done!  I recommend him to anyone that requires the services of a great real estate agent.
  
 
       
   Emily Bozanich 
 2023-10-07
 
 
  We worked with Rachel and she was beyond diligent. She is so organised and meticulous with details, it really helps when buying a home. She even agreed to do a virtual walk through for the home we ended up buying because we weren’t going to get there ourselves prior to offers being reviewed. She was also great with recommending areas to consider and avoid. Highly recommend.
  
 
       
   Cy Dixon 
 2023-10-06
 
 
  Rachel was amazing. She helped me find the perfect home for me and my son during a challenging time in my life. She was extremely patient and empathetic, professional and knowledgeable. I highly recommend her. No one will work harder for you than Rachel.
  
 
       
   Jeff C 
 2023-10-06
 
 
  Awesome realtor team very helpful and knowledgeable
  
 
       
   Nathalie Groupe Godin 
 2023-10-06
 
 
  Great service. Very knowledgeable. Super helpful. I’d use this team again.
  
 
       
   D Hynders 
 2023-10-05
 
 
  I recently used Chris' team to purchase a new house and I have to say that it was a pleasure to work with them.
  
 
       
   Megan Bixby 
 2023-10-05
 
 
  My husband and I purchased a house in the surrounding Ottawa area with the assistance of Colin from this group of individuals. We unfortunately were left with no choice but to purchase a home sight unseen due to our work circumstances. We originally considered not purchasing because of this.
We deliberated and chose to purchase a home after participating in FaceTime showings and we could not have been more satisfied. Colin was objective, professional, calm, informative, and realistic. He listened to our needs and helped us choose our home. The fact that we were pleasantly surprised, and a year later remain pleased as punch, says everything about how talented this company is. Will, without a doubt, use this company when we leave Ottawa.
  
 
       
   André Desjardins 
 2023-10-04
 
 
  We worked with Chris to find a home back in 2011 that would suit our desire to be close to work. He was nothing but professional and courteous! Listening to our needs and showing us what we were looking for. Years later, when we thought about down sizing and finding a renovated home, he took us around to see some in the neighborhood. He always open to helping us out in our searches

From the blog...

Ottawa Market Outlook for 2012

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