Residential

Canadian Real Estate Association said Monday that about 667,000 residential properties changed hands in 2021, about 30 per cent more than the 10-year average.
Median price of a single-family detached home in the capital rose 20 per cent year-over-year to $876,600 in the quarter, while condo prices increased 11.5 per cent to $417,700.
SerCo Realty Group wants to build a highrise with 160 rental suites at 1400 Bank St., just south of the Billings Bridge Shopping Centre, on land currently occupied by a two-unit retail property.
Mall owner wants to construct a mixed-use tower with 280 rental apartments and ground-floor retail space on land currently occupied by a heritage building.
The average residential-class home sold for $716,992 last month, up from just over $600,000 a year earlier, the Ottawa Real Estate Board said Friday.
Firm predicts the city’s housing inventory will grow slightly in the year ahead but says “low levels are expected to remain a concern.”
ClubLink says course is no longer financially viable and wants to partner with Minto Communities and Richcraft Homes to build 1,480 homes on the 71-hectare site.
The Ottawa-based real estate investment trust said its funds from operations – a key cash-flow metric – rose 12.3 per cent in the third quarter compared with a year earlier. 
Board president suggests owners of rental properties who might have put them on the resale market in the past are retaining homes and condos “for investment purposes.”
Proposal calls for 293 rental units at 1071 Ambleside Dr., just north of Richmond Road and about 400 metres west of the future New Orchard LRT station that’s now under construction.