The aggregate price of a house in Ottawa rose 11.7 per cent in the second quarter of 2020 compared with a year earlier, Royal LePage says, but some relief could be in sight.
Single-detached starts last month matched June 2019's tally, while the number of multi-unit builds inched up from a year ago.
Average sale price jumps 15% to $575K
Report suggests Ottawa remains an affordable market relative to other Canadian cities, despite rapid price appreciation in recent years.
Report predicts weaker demand for homeownership due to job and income losses.
Opponents say the proposal violates a longstanding agreement to keep the property as greenspace.
Housing starts in Ottawa held steady in May compared with a year earlier, but there was a steep drop in new builds on the Gatineau side of the river.
House prices hit $548,140 in May, a year-over-year increase of 11%.
A local retirement home operator plans to more than double the size of its property in Ottawa south with the addition of a 14-storey highrise.
REIT is looking at building a significant number of new apartment units at three of its existing Toronto sites.