Construction of a record number of new homes in Ottawa began last year, as realtors warn the lack of supply is a major problem in the housing market.
The City of Ottawa’s 2020 Annual Development Report shows that there were 9,239 new housing starts in 2020, the highest number in a year since the merger in 2001.
The 9,239 housing starts in 2020 are up 30.7% from 2019.
In terms of the type of dwellings built, 3,816 apartments were built, 2,733 were townhouses, 2,439 were single-family homes and 251 were semi-detached.
A total of 11,339 housing permits were issued in 2020, up 20.3% from 2019 and the highest number of permits issued since the merger.
The percentage of housing permits issued within the Greenbelt increased to 50.4% of all permits in 2020, from 36.5% in 2019.
“This increase is due to a large number of apartment units that received planning permission inside the Greenbelt in 2020,” staff said in a report for the planning committee meeting. Monday.
According to staff, 43.56 percent of the new permits issued for the units were near Ottawa light rail stations, main streets and the central area of ââOttawa.
A new report released this week raised concerns about supply levels in Ottawa’s housing market.
“Supply is expected to increase slightly in 2022, but low levels should remain a concern,” Remax said in its housing market outlook, adding that house prices would rise 5% in 2022.
The Ottawa Real Estate Board said last month that the only way to find “balance” in the Ottawa real estate market was to increase the supply of housing “exponentially”.
Ottawa’s population grew 1.6% in 2020 to reach 1,022,604.
At the end of 2020, there were 435,747 households in Ottawa, up 1.6% from the previous year.