Key questions for Ottawa real estate in 2013

Published 10 January 13 08:01 AM | Gord McCormick 

2012 results: return to standard performance or a transition year to a buyer's market?
We had a very interesting year in 2012 and one could argue it was either a return to slower and more normal growth in real estate or equally one could say it was a transition year which shows a downward trend.

What will happen with mortgage rates in 2013?
There seems to be a sense that eventually rates have to rise but when? and by how much?  We entered 2012 with much the same expectation, yet rates remain about where they were a year ago.

Will investor interest wane based on less perceived growth?
Investor buyers have had an important position in the growth market the last many years, especially in the new condo market.  Will there be a pullback in this sector and what affect might that have on the overall market?

Will the strong trend line continue towards purchases of semi's, rows and condo's ?
We have seen a significant shift in purchases of new construction towards multi-dwelling units and away from single family detached homes.  Hard to tell if this shift has been dictated by demographics or price levels and perhaps it is a combination of both.  Also, will boomer downsizing have a significant impact on this year's market?

Does the federal government have further budget containment plans?
This is always a factor in our city and further budget cuts or restraints could ripple through to the real estate market.  Fewer government relocations of personnel (particularly for DND and RCMP) definitely impact the activity in the residential market.

If you would like assistance in reviewing your own housing plans for 2013, please give us a call or email.

Gord McCormick, Broker of Record
Oasis Realty Brokerage
gmccormick@rogers.com
613-435-4692
www.oasisrealtyottawa.com

Check out of facebook page and enter our draw for a free listing : http://www.facebook.com/#!/pages/Oasis-Realty-Brokerage-Ottawa/209265863918?sk=app_197602066931325

 

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