Three newly signed rental houses are listed! (Pictures 1, 2, 3)

And rented out two good houses (pictures 4 and 5), of which 795 Twist Way was rented to the desired tenant within ten days of its listing!

The Government of Canada announced that it has absorbed more than 401,000 new permanent residents in accordance with its annual target in 2021, setting a new record for the number of new immigrants received annually. The federal government announced as early as October 2020 that it has raised its goal of attracting more than 1.23 million permanent residents over the next three years, ensuring Canada has a sufficient workforce and remains competitive on the world stage. And Ottawa will increase its population by 400,000 in the next 20 years! What challenges and opportunities will these ever-increasing new immigrants bring to the real estate market? Will they inject fresh blood into the real estate market, or will it further promote the market to favor sellers?

According to data recently released by the Canadian Real Estate Association (CREA), in the past year, a total of 666,995 homes were sold across the country, a year-on-year increase of 20%, breaking the 2020 record; the national average house price increased by 26.6%, reaching as high as $811,700! Before the pandemic, only about 30 per cent of new economic class immigrants were already in Canada when they received their status, while 70 per cent were from overseas. By 2021, that has reversed, with about 70 per cent now landing from within Canada, while only about 30 per cent from overseas. As the number of newcomers with Canadian living experience continues to increase, the intermediate stage between "arriving in Canada" and "buying a home in Canada" may be shortened. At the same time, these new immigrants with high education and high salary will also have more ability and vision to buy housing as soon as possible.

In short, the real estate market in Ottawa has a bright future. Whether you are buying a house or selling a house, contact Helen Tang Real Estate Team, we are your trusted team