Ontario Construction News staff writer
The Greater Ottawa Home Builders’ Association (GOHBA) has released data revealing new home sales in the city of Ottawa in 2023. According to the data from PMA Brethour, new home sales in Ottawa were 2,571 in 2023, which is a 7.4 per cent decrease compared to 2,776 sales in 2022.
This is disappointing news for the home builders in Ottawa who had been hoping for a pick-up in sales after the low numbers of 2022. The data also shows that 2,571 new homes were sold in the city in December 2023, which is a 33% decrease when compared to the month before. The five-year average of December sales shows a trend of sales on the lower end.
GOHBA executive director Jason Burggraaf said in statement “As we reflect on the past year, the uptick in new home sales in December is a positive sign; however, it’s evident that concerted efforts are needed to address the complex factors impacting new home supply.”
Looking at the sales for the year 2023, 2,571 new homes were sold in Ottawa which is the lowest number in the last five years. The data further reveals that 54 per cent of the new homes sold in December were in Ottawa’s south end while 34 per cent were in the west end. 10 per cent of the sales were in the east end and one per cent in central Ottawa.
In terms of product type, townhouses were the most popular product type sold in December, accounting for 47 per cent of all sales. This is slightly down from 54 per cent in November. The data indicates that the Ottawa home market was challenging in 2023 with low sales numbers. The GOHBA says in its statement it is urging all levels of government to work together with new home builders to stimulate new construction in the city.