The number of homes valued at $1 million or more has grown, according to data from the City of Ottawa and Ontario’s Municipal Property Assessment Corp.
The Ottawa Citizen reports that in 2006 there were 402 properties in the city assessed as $1 million or more, while in 2015 there are 2,697.
Rockcliffe, Capital ward, Osgoode ward and Kitchissippi are among the neighbourhoods where seven-figure homes are becoming more prolific.
Along with Toronto and Vancouver, more Ottawans are being priced out of their own neighbourhoods.
Steve Randall has more than three decades of media experience encompassing online, newspapers, magazines, radio, and podcasts. He focuses on insights and news for professionals in finance, real estate, and legal services. Steve writes for multiple Key Media titles in Canada, United States, Australia, and New Zealand.
