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What’s Ahead for Ottawa Real Estate in 2025?

The new year always brings questions, and when it comes to Ottawa real estate, 2025 feels especially uncertain. Between politics, economics, and global events, there’s a lot in play that could shape the market. I’ve put together a video with my predictions, but here’s a quick overview of what I’m keeping an eye on this year.

First up, it’s an election year, and all signs point to a potential change in government. If the Conservatives take over, we might see policy shifts or cuts to the public service. For a government town like Ottawa, this kind of uncertainty tends to make people act. Some homeowners may decide it’s time to sell, while others could take a wait-and-see approach.

Then there’s the interest rate situation. The Bank of Canada has been hinting at more rate cuts, which could bring buyers back into the market. Lower rates often mean more competition, and we might see the heat rise in certain neighbourhoods as people try to lock in favourable deals.

A major wildcard this year is the mortgage renewal crunch. Over a million mortgages are set to renew in 2025, and many of them were locked in when rates were under 1%. With current rates higher, those renewal notices could push some homeowners to rethink their finances—and their homes.

And let’s not forget global factors, like Trump’s sudden focus on Canada. New tariffs could hit industries and jobs, potentially making waves in our local market. Pair that with ongoing high inflation and the rising cost of living, and it’s clear that affordability will remain a big challenge for many buyers and sellers this year.

Curious to dive deeper? Watch my video below for the full scoop, and let me know what you think in the comments.

Let’s see where 2025 takes us!