DND personnel relocation is an important factor in our market (as is the government Integrated Relocation Program-IRP) and 2014 seems to have started cautiously in that regard. In our own neighbourhood we had 8 or 10 listings at this time lat year for those on move whereas this year we have only seen 2 or 3.
One observation has been that things are trickling out a bit at a time, whereas most years we see immediate listing action in April. Another affected party reported hearing that planned DND moves were down from a total of total of 11,000 nationally to 8,100 this year.
We are proud to help many military, government and private sector employees relocate each year and having done many moves ourselves, we also feel very comfortable providing our experience for these families and individuals. We are registered with the Brookfield Global Relocation Services and are familiar with their process requirements.
As specialists in suburban resale properties, new construction and country residential properties-we offer services in virtually every popular area of the city.
Our non IRP listing fees for most residential properties are only 2.5%-4.0%, so military families on the move can save 25% or more with us even if they are not moving for DND operational purposes. (compared to traditional 5% fees)
We also offer an amazing buyer rebate/cashback program that provides an $1,740 bonus to the buyer of an average residential home priced at $400,000.
Call us to discuss how these programs might work for you! 613-435-4692
Not intended to solicit those with existing representation agreements.
Gord McCormick, Broker of Record
Dawn Davey, Broker
Oasis Realty Brokerage
DND IRP Review could impact Ottawa real estate:
A recent article (Jan 29th, 2013-see link below) discusses a review being conducted by Military Ombudsman Pierre Daigle which could potentially have an impact on the Ottawa real estate market and on military career path development.
Big Cost of Moving Military plus employee real estate risk:
In the article, the Ombudsman is questioning the real estate risks taken by personnel being moved and also the taxpayer cost and total number of all moves which account for somewhere near 15,000 annually, if the numbers quoted are correct. If one assumed that 25% of those moves involved personnel either moving to or from the Ottawa area that would amount to 3,750 housing transactions annually which is quite an important driver in the Ottawa real estate market. (we estimate total housing transactions in Ottawa to be in the 22,000 to 25,000 range annually)
Impact on Ottawa real estate:
Therefore, any significant change in the number of military relocations to/from Ottawa would have a softening effect on our marketplace. For example a decrease of 30% in the number of moves would amount to over 1,000 fewer houses bought or sold during the year in our market.
The Ombudsman's review is due to be completed in the next few months with a report delivered sometime this summer.
DND Intends to cut 10% of personel moves in upcoming budget year, starting April 1:
DND announced that as part of their budget cut program, they will be reducing the number of relocations under the government Integrated Relocation Program. (IRP) This program is very important to the Ottawa real estate market as DND makes up for the largest portion of all government employee moves and many of these are to and from Ottawa.