Ask The Realtor®: Are Westboro-Wellington House Prices Set to Fall?

July 8, 2013 12:24 am Published by Leave your thoughts

Ask The Realtor®

Q: Are Westboro-Wellington House Prices Set to Fall?

A: Members of the Ottawa Real Estate Board sold 4.1% less residential properties this June than June of 2012. However, the Westboro-Wellington real estate market is very much driven by local factors like job growth, demographics, transit plans and local trends. Most of these market indicators point to a very robust future local real estate market.

First, the worst of the federal government’s job cuts appear to be over. Second, Westboro-Wellington is experiencing a surge of condo construction fuelled by retired baby-boomers downsizing and moving back into the city from the suburbs. Third, the City of Ottawa’s Light Rail Transit plan promises to ignite a building boom in Hintonburg, Mechanicsville and West Wellington Village. Finally, our local market continues to be one of the most sought-after neighbourhoods by families looking for a great place to raise their kids.

All these trends promise a healthy local real estate market that should be good for local residents and real estate investors in Westboro-Wellington!

Contact a member of WestboroPropertyShop.com to schedule a free market evaluation of your neighbourhood.

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This post was written by John King