The City of Ottawa has been keeping reliable records regarding sales value since the early part of the last century. Gathering historic fact along with an application of current economic variables, statisticians are able to look to the past and make estimations as to how real estate growth and value change will be expected for the future. In the process of assessing price range fluctuations along with projected neighbourhood change, it is possible to offer some further insight. Economic variables and inflationary measure will increase property value over periods of time.
Currently, Real Estate statistics of this sort are very precise and released frequently through OREB. By carefully evaluating specific areas within the city, we can see exact change in average sales value. We can also see the value of differently defined categories of homes (Condo’s, Single Family, Detached/Semi’s etc.) and buildings and land. We also can assess the City’s Official Plan in order to project neighbourhood changes, which effect over-all price ranges, over periods of time. Whether buying as a family or personal home or if you are portfolio investing for the purpose of Retirement Planning, Diversification or even Childhood Education Planning, it is important to have a grasp of how the market stands, and where it is indicated for change.