Real estate markets like Toronto have increased at staggering rates over the last few years. This is a direct cause of the booming economies in those cities. When business is good, the real estate market is good. When it’s not, the market crashes.
Ottawa’s employment is largely based on two very stable sectors; government workers and high-tech.
According to Statistics Canada, Federal employees comprise nearly 20% of Ottawa–Gatineau's employed labour force. Nearly 1 of 3 federal government workers work in Ottawa.
Also according to Statistics Canada, nearly 47,000 high-tech jobs are fulfilled in the capital region.
Foreclosures and Vacancy Rates
Ottawa’s vacancy rate in 2019 was almost a full 0.5% lower than the rest of Canada.
Ottawa’s vacancy rate was 1.8%, compared to the 2.2% vacancy rate across the entire country.
Considering the stable industry found in Ottawa, it is more likely to fund tenants with secure and higher paying jobs. Ottawa reported a median household income of $102,000. Despite a very high median family income, Ottawa has an average housing cost of $394,000 which is relatively low.
Ottawa is expanding and is set to grow over the next 25 years. The urban boundary is set to grow between 1.350 and 1.650 hectares between 2021 and 2046.
Communities like Overbrook and Bells Corners for example are going through major stages of growth.
This will also increase the value of Real Estate in the core of the city!
Quality of Life
Quality of life in Ottawa is impeccable. Ottawa was ranked #3 by Macleans as one of the best communities in Canada.
Ottawa has great transportation, beautiful neighbourhoods, and an impressive connectivity with nature. Ottawa offers a very clean city, with various parks, bike lanes, and of-course the beautiful canal right in the middle!
Ottawa also offers great post secondary education with Algonquin, Ottawa U, and Carleton!
Of-course, Ottawa offers great entertainment. With various major sports teams, and music festivals in the summer.