Ottawa’s Affordability Slips

A small deterioration in housing affordability conditions occurred across most classes last quarter, but Ottawa’s overall conditions still remain generally balanced with no wild swings having occurred for several years now. As with many markets, gains in household incomes helped out while price gains over a year ago remain in the five to seven percent range for all major housing classes. Ottawa has witnessed ever so slight deteriorations in housing affordability in recent years, but remains among the steadiest housing markets in the country.