Ottawa resale market on the up and
up.
Ottawa, September 5, 2013
- Members of the Ottawa Real Estate Board sold
1,219 residential properties in August through the Board`s Multiple Listing
Service system, compared with 1,145 in August 2012, an increase of 6.5 per
cent. The five-year average for August sales is 1,202.
`It has been one year since the Canadian
Government introduced the new mortgage rules, and although the Ottawa
market has been slow-moving since the beginning of the year, this month`s
numbers are quite the opposite,` says Tim Lee, President of the
Ottawa Real Estate Board. `With both residential and condo units sold up a
respectable amount since last year, it breaks the downward cycle. In addition,
average sale prices evened out in August, creating a welcomed lull in inflating
property prices.`
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