Archives for Real Estate News

BREAKING NEWS!!!!

Ted McMeekin, the Minister of Municipal Affairs and Housing, informed the legislature that the government will NOT give municipalities the ability to charge a municipal land transfer tax (MLTT).
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February Sales Residential & Condominium

Members of the Ottawa Real Estate Board sold 853 residential properties in February through the Board’s Multiple Listing Service® system, compared with 868 in February 2014, a decrease of 1.7 per cent. The five-year average for February sales is 914. The average sale price of residential properties, including condominiums, sold in February in the Ottawa area was $358,206, an increase of 1.3 per cent over February 2014. The average sale price for a condominium-class property was $267,800, an increase of 3.8 per cent over February 2014. The average sale price of a residential-class property was $380,358, a decrease of 0.3
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Ontario moves to license condo managers

Things appear to be starting to turn around. Following a year-long review by government and industry officials and condo owner representatives, Queen’s Park recently proposed improving Ontario’s 15-year-old Condominium Act in order to offer condo owners, tenants and buyers greater protection. About 10 per cent of Ontario’s population lives in condominiums and condos represent around 50 per cent of all new homes built in Ontario. There are almost 600,000 condominium units in the province and 9,000 condominium corporations, according to the provincial government. The first of several changes now being proposed to the Condominium Act involves introducing mandatory qualifications for
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